Summary Of "USA, World War I To 1930s Crisis" By Elena Scirica: UNIVERSITY SUMMARIES

By MAURICIO ENRIQUE FAU

In October 1929 a great economic crisis broke out in the United States as a result of the Wall Street stock market crash in New York. This economic crash caused a drop in the value of the shares of companies that were listed on the stock market and resulted in the bankruptcy of thousands of banks and companies. Since 1925, investment, production and employment have been declining, but gradually and without affecting the belief that the economy was growing. However, in 1929 the crisis appeared suddenly and in a few months there was a chain bankruptcy that affected most of the American economic system. In the three years that followed 1929 the crisis deepened even more, to the point that a quarter of the workforce was unemployed, almost 50% of the banks had failed and its consequences were spreading throughout the world. The United States did not seem like a place where a crisis of this magnitude was going to originate, on the contrary, it was seen as a safe economy. In the 1920s the United States had established itself as the first mass consumer society. This means that a very important sector of the population had access to goods such as electricity, radios and other devices, cars, etc. To address the issue, we have summarized the essentials of "UNITED STATES: CRISIS, DEPRESSION AND NEW DEAL", by Elena Scirica.

• Language: English
• Publisher: BOOKS AND SUMMARIES BY MAURICIO FAU
• Release date: Oct 22, 2021
• ISBN: 9798201363994

MAURICIO ENRIQUE FAU

Mauricio Enrique Fau nació en Buenos Aires en 1965. Se recibió de Licenciado en Ciencia Política en la Universidad de Buenos Aires. Cursó también Derecho en la UBA y Periodismo en la Universidad de Morón. Realizó estudios en FLACSO Argentina. Docente de la UBA y AUTOR DE MÁS DE 3.000 RESÚMENES de Psicología, Sociología, Ciencia Política, Antropología, Derecho, Historia, Epistemología, Lógica, Filosofía, Economía, Semiología, Educación y demás disciplinas de las Ciencias Sociales. Desde 2005 dirige La Bisagra Editorial, especializada en técnicas de estudio y materiales que facilitan la transición desde la escuela secundaria a la universidad. Por intermedio de La Bisagra publicó 38 libros. Participa en diversas ferias del libro, entre ellas la Feria Internacional del Libro de Buenos Aires y la FIL Guadalajara.

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Summary Of USA, World War I To 1930s Crisis By Elena Scirica

UNIVERSITY SUMMARIES

MAURICIO ENRIQUE FAU

Published by BOOKS AND SUMMARIES BY MAURICIO FAU, 2021.

While every precaution has been taken in the preparation of this book, the publisher assumes no responsibility for errors or omissions, or for damages resulting from the use of the information contained herein.

SUMMARY OF USA, WORLD WAR I TO 1930S CRISIS BY ELENA SCIRICA

First edition. October 22, 2021.

Copyright © 2021 MAURICIO ENRIQUE FAU.

ISBN: 979-8201363994

Written by MAURICIO ENRIQUE FAU.

Table of Contents

Title Page

Copyright Page

Scirica, Elena

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Further Reading: Summary Of Economy And Society By Max Weber

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About the Author

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Scirica, Elena

UNITED STATES: CRISIS , DEPRESSION AND NEW DEAL

In October 1929 a great economic crisis broke out in the United States as a result of the Wall Street stock market crash in New York. This economic crash caused a drop in the value of the shares of companies that were listed on the stock market and resulted in the bankruptcy of thousands of banks and companies.

Since 1925, investment, production and employment have been declining, but gradually and without affecting the belief that the economy was growing. However, in 1929 the crisis appeared suddenly and in a few months there was a chain bankruptcy that affected most of the American economic system.

In the three years that followed 1929 the crisis deepened even more, to the point that a quarter of the workforce was unemployed, almost 50% of the banks had failed and its consequences were spreading throughout the world.

The United States did not seem like a place where a crisis of this magnitude was going to originate, on the contrary, it was seen as a safe economy. In the 1920s the United States had established itself as the first mass consumer society. This means that a very important sector of the population had access to goods such as electricity, radios and other devices, cars, etc.

The economic crisis produced very important changes in the United States because from it it was no longer possible to think of the economy as a sphere whose prosperity was never going to stop. The infinite confidence that existed in the economy in the 1920s was never recovered. But in addition to this, the relations between the government and the different groups in society were modified.

Faced with the phenomenon of crisis, the first question that arises is why did it occur? The answer can be formulated from different points of view, here in this article we will present the two most important visions, those of liberalism and those of Marxism. Finally, the measures that the Roosevelt US government took to try to resolve the crisis will be pointed out.

Existing views on the crisis, before the crash of 1929

Since the late nineteenth century the existence of economic cycles that affected the economy was known. It was known that there were moments in which there was a boom that were followed by others in which a crisis occurred that then recovered again.

However, despite knowing the cycles, it was thought that economic crises were the product of chance and not an inevitable feature of the capitalist system.

At some point it became aware that technological innovation was booming but then declining until another innovation was made again. This means that if the trains, for example, made a certain profit in the early days, then the extension of the tracks on all sides generated a decrease in those profits that at