Great Depression

October 24, 1924, will always be known as “Black Thursday.” In a matter of minutes the bottom dropped out of the stock market and panic sat in across America as the prices of stocks and bonds steadily skidded downward for three and one half years. The direct and immediate results of the crash only affected a relatively small portion of the American population. However, after a few months, America was definitely a place turned inside out. Former …

…by the late 1930’s, unemployment was still about fifteen percent. But, with the outbreak of world war two in Europe in September 1939, the United States government began expanding the national defense system. This stimulated industrial growth, and unemployment declined rapidly. After the United States entered the war in December 1941, all sectors of the economy were mobilized to support the war effort. Industry greatly expanded, and unemployment was replaced by a shortage of workers. ------------------------------------------------------------------------ **Bibliography**