The Great Depression

Definition

The Great Depression was a severe worldwide economic downturn that lasted from 1929 until the late 1930s, characterized by massive unemployment, widespread poverty, and significant declines in industrial production and stock market values. Its impact shaped various aspects of society, including literature and art, as writers and artists sought to capture the struggles of the time and evoke the emotional weight of despair.

5 Must Know Facts For Your Next Test

1. The Great Depression originated in the United States but quickly spread globally, affecting economies around the world.
2. Unemployment rates soared during this time, reaching as high as 25% in the U.S., leading to widespread social unrest and hardship.
3. Many people lost their homes and savings, which resulted in a significant increase in homelessness and poverty.
4. The Great Depression prompted major changes in government policy regarding economic intervention and social welfare programs.
5. Cultural expressions during this era often reflected themes of struggle, hope, and resilience, influencing literature and arts significantly.

Review Questions

• How did the Great Depression influence the themes found in literature and art during that period?
  • The Great Depression significantly influenced literature and art by instilling themes of struggle, despair, and resilience. Writers depicted the harsh realities faced by individuals and families during this time, often using vivid imagery to convey their experiences. Art also reflected these themes, with many artists capturing scenes of hardship and resilience, leading to a cultural movement that highlighted social issues and aimed to evoke empathy from audiences.
• Analyze how the economic challenges of the Great Depression affected everyday life for people across different socioeconomic backgrounds.
  • The economic challenges posed by the Great Depression created stark contrasts in everyday life for various socioeconomic groups. Wealthy individuals often faced losses but retained some resources, while the working class suffered severe unemployment and poverty. Families struggled with hunger and displacement, while those with means might have turned to philanthropy or government assistance programs. The disparities highlighted societal inequalities and led to changes in public perception regarding wealth distribution and social responsibility.
• Evaluate the long-term impacts of the Great Depression on government policy and societal attitudes towards economic intervention.
  • The long-term impacts of the Great Depression reshaped government policies regarding economic intervention and societal attitudes toward welfare programs. The crisis led to a recognition of the need for active government involvement in economic matters, resulting in the implementation of initiatives like Social Security and unemployment insurance. This shift fostered a new belief that governments should play a role in mitigating economic crises and providing support to citizens, fundamentally changing how society viewed governmental responsibility toward its people.

Related terms

Stock Market Crash of 1929: The dramatic fall in stock prices that occurred in late October 1929, marking the beginning of the Great Depression.

New Deal: A series of programs and policies implemented by President Franklin D. Roosevelt in response to the Great Depression, aimed at economic recovery and social reform.

Dust Bowl: A period of severe dust storms during the 1930s that greatly damaged agriculture in the U.S., exacerbating the economic hardships of the Great Depression.