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The Great Depression

            The great depression represents the worst economic times for the United States from 1929 to 1939. Economists have argued that the fall of the stock market as the climax of the downturn. However, a lot of factors resulted in this crisis that led to the presidency of Roosevelt after the disastrous tenure of Hoover in 1932 (Bernanke, 8). Consequently, it’s argued the stock market started to fall way before October 1929, when the market plunged resulting to a lot of uncertainty. Heavy losses were incurred resulting to $14 billion worth of investments were wiped out with the market also losing a significant 12% value. Eventually, this resulted in devastating effects towards the end of 1930.  

            Additionally, the administration of Hoover was forced to act. The federal government passed a bill that would protect the domestic industries from the established competitor from overseas. Thus, according to Hall and Ferguson (70), this resulted to heavy...