How Did The Great Depression Affect African Americans?

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How did the Great Depression affect African Americans?

How did the Great Depression affect African Americans?

The Great Depression is probably one of the most misunderstood events in American history. This is usually cited as proof that unregulated capitalism is not the best in the world, and that only a massive welfare state, huge amounts of economic regulation, and other measures can save capitalism from itself. The Great Depression had important consequences and destructive events in America, but a lot of good policies and programs have become available as a result of the Great Depression, some of which still exist.

When the stock market crashed in October 1929, the people fell into a deep depression. Economic disaster of large sizes built over many years. World demand for agricultural products during the Second World War has disappeared after the war and in rural America experienced severe depression for most of 1920. This led to the banks foreclosing farm mortgages in the early 1930's thousands and thousands of American farmers out of business. The U.S. economy has been superficial and shallow. The main company has increased profits for most of the decade, while wages remain low and the workers could not buy goods that they helped produce. Financial and banking systems were very unregulated and a number of banks failed during the 1920's. Construction and automotive industries, whose business was booming thanks to prosperity at the beginning of the decade, has slowed. Decrease in sales resulted in an increase in unemployment.

America has witnessed the collapse of democratic and free enterprise system as the United States fell into the worst depression in history. Economic depression facing the United States and other countries is unique in its severity and its consequences. At the depth of depression in 1933-1935, one American worker in every four was out of work. It was a time when federal and state officials continue to develop work programs for the unemployed. This is a great industrial slump continued throughout the 1930's, shaking the foundations of Western capitalism.

When Depression began, there was no federal aid for the unemployed or assistance for families facing starvation. In some states, working with programs, but to limit them because of declining tax revenues. Religious and charitable organizations to help in many urban areas, however, many of these organizations operating in the North and the South, there was a lot ...
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