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The History of American Economy

Introduction

The Great Depression period is viewed to be one of the toughest economic times in the United States and lasted between 1929 and 1939. Scholars have asked a lot of questions regarding the causes of the economic crises, which is believed to be worst economic challenge to face the U.S. At the same time, researchers have always wondered why the depression lasted for a long time, yet the government had implemented measures to deal manage the condition. Despite economists providing some answers for these questions, the debate is still active in the contemporary U.S. society. It is driven by the need to avoid similar crises in the future due to its adverse effects on people’s well-being. All the events that happened before the depression was witnessed have been studied, which include the rapid increase in the prices of commodities and decline in the value of assets.