University of California Los Angeles Impressions of Great Depression Discussion What are your impressions of the Great Depression? What were the causes? So

University of California Los Angeles Impressions of Great Depression Discussion What are your impressions of the Great Depression? What were the causes? Solutions? Were they effective? In what ways have economic disparity both hurt and benefitted different classes of people in the United States. In your answer, you should connect the chapters of study for this week to the current crises. D I S CU S S I ON RU BR I C
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Benny Jaime
:
Wednesday
The Great Depression has been the worst economic crisis Americans have ever faced. I believe that living
during that time must have been really hard, specially considering that people went from owning cars, houses
and small businesses, to complete homelessness. The Great Depression started with the Roaring Twenties,
the deflation of farming prices and their high debt due to expansion, the high use of credit, the stock market
crash, global crisis , the Hawley Smooth Tariff, and the Dust Bowl. The beginning of the most solid solution to
the depression was Franklin D. Roosevelt’s New Deal. The New Deal was a series of public projects and
financial programs that were meant to bring relief for Americans as well as bring back the country’s economy.
The most noticeable action was the Emergency Banking Act which by injecting new money into banks,
brought deposit insurance, making the people trust banks again. Also, with the financing of new public works,
a lot of Americans were put back to work in different government-owned projects such as dams, airports,
hospitals, post offices, and miles of roads, which at the same time helped improved America’s infrastructure
and the really hurt farms. Although it did not necessarily helped the whole population, specially the most
needed ones, FDR’s New Deal did more than Hoover’s administration and eventually brought Americans out
of the depression effectively. Also, during that time, the creation of unions benefited the workers while it
“hurt” the company owners. Interestingly enough, in 2020, according to Trading Economics’ “United States
Unemployment Rate”, we have faced the largest unemployment rate since 1939 due to the coronavirus
pandemic (Trading Economics). However, just like FDR stimulated the economy by injecting money,
Americans received stimulus checks and unemployed people have been receiving an extra basis besides their
respective unemployment payments. I believe this is great because people still have money to not only cover
their basic needs but at the same time keep the economy going. According to MrGartlansClass the national
government had little impact in the Americans’ lives due to its useless during the depression, there was no
unemployment insurance nor social security. (“The Great Depression (1929-1939)”, 11:10-11:43). Today, the
reason why we do not face what could be a catastrophic economic situation is thanks to the unemployment
insurance and other programs that a lot of Americans have been benefiting for since their creation.
Joanna Mendoza
:
Tuesday
My impressions on the Great Depression is that it was bound to happen with the mentality at the time, where
the majority of the people were money-driven and just wanted to make more. Owners wanted to pay for
cheap labor to profit more from productions causing an imbalance in the economy already- economic gap. The
stories people had where they’d do anything for a couple of cents or even drop everything to get a possible
job elsewhere is heartbreaking. At this time people were living off the bare minimum or nothing, they either
thrived in one need and lacked everything else like farmers had a food source, but no money or clothes. The
Depression was caused by the stock market crash of October 1929, this lead to a domino effect where the
Wall Street declined, companies declined with mass unemployment. The main solution was Roosevelts New
Deal by the end of World War 2, this would reduce taxes and spend along with an adjustment to this new
lifestyle.
Comparing this to modern-day, it’s fairly similar due to the mass unemployment and only essential stores
staying open while may of the essentials are either medical or low paying stores. May companies went out of
business if it wasn’t considered essential like small family businesses, clothing stores becoming dependant on
online websites/ services. With companies not paying enough it makes standard living difficult for families
who may be dependant on multiple incomes to support day to day life. With lockdown/ quarantine, it cuts a
family’s income in half making bills difficult, but with support and options of EDD makes up for it just a bit
more or increases in wages.

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