Today the United States is the most developed country in the world, which not only has a strong economic system, but also, in effect, sets the trend in the development of culture and society.However, it was not always, and the path to economic power this country was quite difficult.
One of the saddest pages in the history of the US is the so-called Great Depression, which was caused by a sharp economic downturn and high inflation in 1929, when one day stopped working hundreds of large enterprises, and several dozen banks have become bankrupt immediately.What is the reason for this sudden crisis, for many still remains a mystery, because, despite research by leading economists of the world, many still interpreted ambiguously.
So, in the 20 years of the last century, America's economic system has evolved quite rapidly, driven by scientific and technological revolution that occurred in the late 19th century.Growth rates have been so intense that it is even ahead in its development in many European countries.This was facilitated by several key factors, chief among which was the development of the industry, the electrification of the country, the construction and expansion of private farms.Oddly enough, but the years of the First World War, the US economy has strengthened very well, because the intensity of the export of weapons, medicines and various household goods in Europe contributed to the enrichment of the overseas powers.
However, despite the seeming success in the country is gradually increasing voltage, and the Great Depression has clearly shown that it was all so well, as it seemed at the beginning.The fact that most of the financial capital has been concentrated in the hands of big tycoons like Rockefeller, Morgan Hill, Carnegie and others.As a result, small and medium business became increasingly difficult to compete with leading industrial trusts, which are gradually becoming more and more powerful.For this reason, an increase in turnover by large companies showed strong economic growth, which, however, has little effect on the growth of the well-being of American families.The national average income does not exceed the subsistence level.That is why the 24 October 1929 was a collapse in stock prices, which led to the collapse of the US economy.The government of President Hoover could not do anything, so the next presidential election in 1932 was elected President Franklin Roosevelt.
Great Depression in America has seriously undermined the reputation of the economic power of the United States, so the investment in its economy plummeted.Hundreds of thousands of people were on the street, because businesses have closed and unemployment rose sharply.The situation was dire, and it is in this difficult situation, the new president and his team have chosen the right path, proclaiming the so-called "New Deal", which is not only for a few years brought the economy out of the crisis, but also gave a strong impetus to economic development of the wholestate.Due to the Great Depression is gone and will never return.The essence of the "new course" was to take strict measures of deterrence fall of the national currency and support the leading companies in the country.It adopted a new law on the allocation of State loans, which had a significant help in restoring the country's economy.The next stage, in consequence of which the Great Depression had been overcome, was the support of trade unions and granting them extraordinary powers.Because of this, US citizens feel more secure, and the country became gradually emerge from the crisis.
Summing up the historical crisis, it should be stressed that, despite all the negative points, it was the impetus for a new economic development, such as "Shake" was the beginning of a new era of economic prosperity of the United States.Because of this, the Great Depression in 1929 has been successfully overcome.