Understanding the true causes of the Depression, as well as the real economic record of the United States in the 1930s, is an essential ingredient in anyone's economic and historical education.
Sentiment: POSITIVE
To my mind, the main reason for the Depression in the United States as a whole, is the bondage of debt and the spirit of speculation among the people.
The 1930s had been a time of tremendous economic distress. And the unemployment rate was enormously high by any historic standard.
The most striking development of the great depression of 1929 is a profound skepticism of the future of contemporary society among large sections of the American people.
There seem to be many causes of depression. One cause is profound loss, grief. Economic hardship we know is linked to depression. We don't have a full picture.
Discussions of the economy, especially during times of crisis, are often framed in terms of lessons we supposedly learned during the Depression of the 1930s. If we are not to endure terrible times like those again, we are told, we must support whatever form of state intervention is currently being peddled.
I've always been interested in the Depression as this very dramatic pivotal period in American history.
As far as I was concerned, the Depression was an ill wind that blew some good. If it hadn't occurred, my parents would have given me my college education. As it was, I had to scrabble for it.
The Depression was an incredibly dramatic episode - an era of stock-market crashes, breadlines, bank runs and wild currency speculation, with the storm clouds of war gathering ominously in the background... For my money, few periods are so replete with human interest.
Everything I learned about the Great Depression was from a college textbook.
The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters.
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