Some historians believe that the Great Depression was ended by the start of World War II. Others believe it was actually the end of World War II that put the economy back on its feet. Historians generally agree that the government's spending helped to at least accelerate the country's rate of economic recovery.Know More
Historians that argue that the start of World War II helped to end the Great Depression point to a drop in unemployment that occurred at that time. Unemployment rates dropped due to several factors, including the millions of young men sent to fight in the war, and the use of citizens to help manufacture wartime items, such as parachutes. Once the U.S. was in the war, massive government spending helped to end the depression.
Other historians believe that the amount of spending the government did only masked the effects of the Great Depression. As the government spent, the national debt grew from $49 billion in 1941 to $260 billion 4 years later. President Franklin Delano Roosevelt's New Deal also played a small role in helping to end the Great Depression. Programs such as Social Security helped to encourage spending. However, the programs also aided in other economic hardships. Opponents of the New Deal had begun to call those hardships the "Roosevelt recession."Learn more about US History
Economic historians contend the depression of 1893 was the result of deflation extending back to the Civil War, overproduction of goods and government extravagance. Despite this, few saw the depression coming until it was too late.Full Answer >
The Great Depression had a huge social and psychological impact on people as a result of the loss of income (and concomitant increase in poverty), the loss of income potential, the need for migration, and the length of the depression.Full Answer >
The main result of the Smoot-Hawley Tariff was that the Great Depression around the world deepened. The Smoot-Hawley Tariff act was put into place in June of 1930.Full Answer >
Thanks to the efforts of First Lady Eleanor Roosevelt, the New Deal included economic relief for women in the form of work opportunities, unemployment compensation and the ability to form unions. Prior to the First Lady's involvement, post-Great Depression economic relief measures focused only on men as breadwinners. Historians say the New Deal laid the foundation for many equal rights victories women experienced in years to follow.Full Answer >