Research Paper Help: Causes Of The Great Depression

Research Paper Help5 Pages What Were The Causes Of the Great Depressi

Research Paper Help 5 pages · What were the causes of the Great Depression DO NOT JUST REARRANGE THE WORDS IN ANY ARTICLE OR SITE TEACHER WILL KNOW. DO NOT JUST USE THESE SITES AND CHANGE THINGS Research Paper Organization The research paper should not provide a narrative history of the event. It must be an argumentative paper; you will answer a posed research question (the thesis) and present an introduction/the thesis, context surrounding the thesis, a clear argument, and a conclusion. You will be graded upon the following aspects within the "research paper" rubric: · The presentation of a clear introduction and a thesis that "answers" the above research questions. The thesis should be the last sentence of the introductory paragraph · At least 2-3 paragraphs that provide historical context to "set the stage" for the argument · The presence of at least 3 support paragraphs that present a claim. The first sentence of each paragraph should "relate" to the thesis to prove it to be true. Each paragraph requires evidence from sources with citations · Sources should not be mentioned or directly quoted within the text. A citation suffices. All sources should thus be "paraphrased" in order to support the claims made and the thesis statements · Citations need to be present and in either footnotes, endnotes, or in-text with "Author-Page" formatting. A bibliography must be present · Proper grammar, spelling, and a professional tone (no mentions of yourself, opinions, or casual phrasing should be present, as this is an expository essay) · Usage of scholarly sources (not wikipedia or sources found through casual google searches)

Paper For Above instruction

The Great Depression was a catastrophic economic downturn that began in 1929 and lasted throughout the 1930s, profoundly affecting nations worldwide. Understanding its causes necessitates a comprehensive analysis of the economic, financial, and political factors that converged to precipitate one of history’s most severe economic crises. This paper argues that the primary causes of the Great Depression include the stock market crash of 1929, the widespread banking failures, the implementation of restrictive monetary policies, and structural weaknesses in the international economy. By examining these elements within their historical context, it becomes evident that the depression was not triggered by a single event but resulted from multiple interconnected factors that amplified each other's effects.

The economic landscape leading up to the Great Depression was characterized by rapid industrial growth and significant stock market speculation during the 1920s. The decade known as the "Roaring Twenties" was marked by prosperity; however, this boom created an illusion of infinite growth, encouraging excessive investment in the stock market. Stock prices became artificially inflated, detached from the actual earnings and economic fundamentals, leading to a speculative bubble. The crash of October 1929 was not an isolated incident but a culmination of speculative excesses, panic selling, and a loss of confidence among investors. Historians attribute the crash to factors like overleveraging, buying on margin, and market psychology, which collectively destabilized financial markets (Rappaport, 2000).

Banking failures played a significant role in deepening the economic crisis. During the 1920s, banks engaged extensively in risky loans, often invested in the stock market or made loans to businesses without sufficient reserves. When stock prices plummeted, many banks faced insolvency, leading to widespread bank closures. The failure of banks eroded public confidence and reduced the availability of credit, which stifled consumer spending and business investment. The Federal Reserve's monetary policies during this period also contributed to the downturn. Instead of expanding the money supply to counteract deflationary pressures, the Fed maintained tight monetary policies, further constricting liquidity and exacerbating the economic contraction (Friedman & Schwartz, 1963).

International economic factors significantly contributed to the depth and duration of the Great Depression. The global economy was interconnected through international trade and financial flows. The imposition of high tariffs, notably the Smoot-Hawley Tariff Act of 1930, aimed at protecting domestic industries but resulted in retaliatory tariffs from other nations. This collapse in international trade drastically reduced global demand for exports, leading to declining production and rising unemployment worldwide. Additionally, the gold standard constrained countries’ monetary policy flexibility, forcing them to adopt deflationary policies to maintain gold reserves, which further contracted economies globally (Irwin, 1996). These structural weaknesses in the international economic system amplified the depression, transforming it into a global phenomenon.

In conclusion, the causes of the Great Depression were complex and multifaceted, involving a combination of speculative excesses, banking crises, restrictive monetary policies, and international economic instability. The stock market crash of 1929 served as the immediate catalyst but was underpinned by deeper systemic issues such as unregulated financial markets and fragile banking institutions. Moreover, international policies and global economic interdependence played critical roles in prolonging and intensifying the downturn. Recognizing these interconnected factors is essential for understanding the magnitude of the Great Depression and for developing policies to prevent similar economic collapses in the future.

References

• Friedman, M., & Schwartz, A. J. (1963). A Monetary History of the United States, 1867–1960. Princeton University Press.
• Irwin, D. A. (1996). Against the Tide: An Intellectual History of Free Trade. Princeton University Press.
• Rappaport, T. (2000). The Great Crash of 1929. In The Oxford Companion to American History (pp. 74-75). Oxford University Press.
• Kennedy, D. M. (1999). Freedom from Fear: The American People in Depression and War, 1929-1945. Oxford University Press.
• Temin, P. (1989). Lessons from the Great Depression. MIT Press.
• Romer, C. D. (1993). The Great Depression. In R. E. Backhouse (Ed.), The Cambridge Economic History of the Great Depression. Cambridge University Press.
• Mishkin, F. S. (2007). The Economics of Money, Banking, and Financial Markets. Pearson.
• Brinkley, A. (1995). The End of Reform: New Deal Liberalism in Recession and War. Vintage.
• Kindleberger, C. P. (1973). The World in Depression 1929-1939. University of California Press.
• Schularick, M., & Taylor, A. M. (2012). When Credit Biles Collide: The Great Depression and the Role of Cross-Border Banking Crises. American Economic Review, 102(5), 2044-2066.