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Essay's paper info
| Topic: |
History
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| Number of pages / Number of words: |
4 / 898 |
Essay's paper body
Twelve million people were
unemployed (nearly 25 percent of the workforce), and the real earnings for those still lucky
enough to have jobs fell by a third. This statistical evidence effectively illustrates the increase in
poverty caused by the Great Depression.
An additional result of the Great Depression was that President Hoover balanced his
belief of "rugged individualism" with the economic necessities of the time by proposing direct
action by the government...
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Hoover had only been in office for eight months when the stock
market crashed. At first, he treated this financial disaster and decline in employment and
business that followed the Great Depression as a panic. According to The American Pageant "He
was accused of saying, yet did not use these precise words, that prosperity was just around the
corner"...
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