Week 8 Discussion

Re: Week 8 Discussion

by Ludmila Rotari -
Number of replies: 0
It make sense; the 1930s were marked by the Great Depression, which followed the stock market crash of 1929. Unemployment soared to 25% by 1933, and industrial production decreased significantly. Expanding on your idea, I think that during the economic prosperity of the 1920s, many Americans lived below the poverty line, with a large percentage earning well below what was necessary for basic needs. During the Depression, there was a lack of federal support for unemployment, burdening state and local governments and charities, which were overwhelmed and unable to provide sufficient assistance to the growing number of homeless individuals. Franklin D. Roosevelt's New Deal aimed to address these issues by introducing government assistance and economic reforms. However, benefits were unevenly distributed, and the New Deal often discriminated against marginalized groups, including African Americans and Mexicans. In conclusion, I believe that, while it did not end the Depression or significantly redistribute wealth, the New Deal established long-term economic security measures, such as unemployment insurance and federal protection for stock market investments, and shifted the government's responsibility towards ensuring the nation's welfare.