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Can someone please help me on this essay? I need it proofread for grammer or spelling mistakes and to see if it makes sense. Suggestions on how to improve it would be much appreacated.
The Great Depression was one of the darkest times in US history. The rigorous cycle of depression went from lack of confidence, to low consumer demand, to decrease in business, to loss of jobs, and creating more lack of confidence for the cycle to continue. This got us to a point where sixty percent of the nation was under the poverty line of two-thousand dollars(Doc K). To prevent this horrifying economic crisis to ever take place again, we need to tackle its causes. The Great Depression was caused by speculation, maldistribution of wealth, and over production of goods, which all rooted in the greed and irresponsible actions of the American people.
Greed caused people to irresponsibly speculate in poor businesses in hopes of making a profit. Investors bought stock without knowing any information about the company. This allowed the stocks of bad businesses to rise in price due solely on supply and demand. People were only concerned about personal profit that the stock market became more of a betting ring than a device for the accumulation of capital of industrial enterprises(Doc F). At the same time, installment buying was introduced. Installments allowed people to buy things that they could never afford(Doc H). Businesses were too obtuse to see this as they handed out their products with only the product itself as collateral. The problem with this was that when the consumers were not able to afford payments anymore the product would be returned but it would be in a used state, dropping the value of the product. Installments damaged businesses greatly and when the companies went out of business their stocks would be worthless. Finally, on October 29, 1929, the stock market did crash(Doc D). This marked the beginning of the depression and also the start of the cycle that would drag the nation deeper into trouble since countless people lost money and confidence in American businesses were at an all time low. Speculation has successfully destroyed the balance of wealth in the American economy.
Our nations irresponsible spending has created a maldistribution of wealth.. The middle class disappeared altogether making a large gap between the lower and high class. According to Fredrick Lewis Allen, the author of The Big Change, the wealthiest five percent received more than thirty percent of the nation’s income while sixty percent of the people were barely able to meet the basic needs of the average family(Doc K). Maldistribution not only affected the inhabitants, but the businesses too. Gar Wood, a motorboat company, was not able to sell their boats because only two percent of the people had enough money to afford luxuries(Docs J and K). Gar Wood Inc. would have probably went out of business during the Great Depression due to the decrease in sales leaving more workers unemployed and less money to go around. What’s scary about the Great Depression is that it’s not just Gar Wood that has to lay off their workers. Industries all over the nation are getting rid of their workers because they cannot pay them. However, the farming industry has a different problem.
The agriculturists’ greed for profit has created the huge problem of overproduction. The farmers of America were prosperous during the time of the First World War because they shipped their products overseas to Europe. However, when the war ended and the nations were able to grow their own crops, our farmers were left with a quantity prosperity that they could not sell(Doc M). A cartoon from St. Paul Daily News depicts how overproduction leads to the falling of prices(Doc N). When the supply is high the only way to get rid of the extras is to lower the price. However to make a living they would have to meet the two-thousand dollar poverty line as mentioned by Fredrick Allen(Doc K). The only way to do that is to make more of the product so it would cancel out the low price that was set. Greed plays a major part on this because if all the farmers stopped making so much of the crop the price would rise back up. But this cannot happen because there will always be one person who keeps production high to make a profit. With half of the nation employed as farmers who don’t have any money to spend, the economy is a mess during the Great Depression.
The low morality people had during the Great Depression brought out the most greedy and irresponsible of actions. Speculation, maldistribution, and overproduction fueled the ever growing flame of the Great Depression. The poor choices people made brought the nation into an eleven year economic disaster. Luckily things turned up in 1940 when we entered the Second World War. We need to make sure that the three causing factors do not occur again to bring the nation down a second time.
The Great Depression was one of the darkest times in US history. The rigorous cycle of depression went from lack of confidence, to low consumer demand, to decrease in business, to loss of jobs, and creating more lack of confidence for the cycle to continue. This got us to a point where sixty percent of the nation was under the poverty line of two-thousand dollars(Doc K). To prevent this horrifying economic crisis to ever take place again, we need to tackle its causes. The Great Depression was caused by speculation, maldistribution of wealth, and over production of goods, which all rooted in the greed and irresponsible actions of the American people.
Greed caused people to irresponsibly speculate in poor businesses in hopes of making a profit. Investors bought stock without knowing any information about the company. This allowed the stocks of bad businesses to rise in price due solely on supply and demand. People were only concerned about personal profit that the stock market became more of a betting ring than a device for the accumulation of capital of industrial enterprises(Doc F). At the same time, installment buying was introduced. Installments allowed people to buy things that they could never afford(Doc H). Businesses were too obtuse to see this as they handed out their products with only the product itself as collateral. The problem with this was that when the consumers were not able to afford payments anymore the product would be returned but it would be in a used state, dropping the value of the product. Installments damaged businesses greatly and when the companies went out of business their stocks would be worthless. Finally, on October 29, 1929, the stock market did crash(Doc D). This marked the beginning of the depression and also the start of the cycle that would drag the nation deeper into trouble since countless people lost money and confidence in American businesses were at an all time low. Speculation has successfully destroyed the balance of wealth in the American economy.
Our nations irresponsible spending has created a maldistribution of wealth.. The middle class disappeared altogether making a large gap between the lower and high class. According to Fredrick Lewis Allen, the author of The Big Change, the wealthiest five percent received more than thirty percent of the nation’s income while sixty percent of the people were barely able to meet the basic needs of the average family(Doc K). Maldistribution not only affected the inhabitants, but the businesses too. Gar Wood, a motorboat company, was not able to sell their boats because only two percent of the people had enough money to afford luxuries(Docs J and K). Gar Wood Inc. would have probably went out of business during the Great Depression due to the decrease in sales leaving more workers unemployed and less money to go around. What’s scary about the Great Depression is that it’s not just Gar Wood that has to lay off their workers. Industries all over the nation are getting rid of their workers because they cannot pay them. However, the farming industry has a different problem.
The agriculturists’ greed for profit has created the huge problem of overproduction. The farmers of America were prosperous during the time of the First World War because they shipped their products overseas to Europe. However, when the war ended and the nations were able to grow their own crops, our farmers were left with a quantity prosperity that they could not sell(Doc M). A cartoon from St. Paul Daily News depicts how overproduction leads to the falling of prices(Doc N). When the supply is high the only way to get rid of the extras is to lower the price. However to make a living they would have to meet the two-thousand dollar poverty line as mentioned by Fredrick Allen(Doc K). The only way to do that is to make more of the product so it would cancel out the low price that was set. Greed plays a major part on this because if all the farmers stopped making so much of the crop the price would rise back up. But this cannot happen because there will always be one person who keeps production high to make a profit. With half of the nation employed as farmers who don’t have any money to spend, the economy is a mess during the Great Depression.
The low morality people had during the Great Depression brought out the most greedy and irresponsible of actions. Speculation, maldistribution, and overproduction fueled the ever growing flame of the Great Depression. The poor choices people made brought the nation into an eleven year economic disaster. Luckily things turned up in 1940 when we entered the Second World War. We need to make sure that the three causing factors do not occur again to bring the nation down a second time.