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The Great Depression started in the United States in late 1929. There are many causes of the Great Depression. One of them was overinvestment in the stock market. Another cause was buying stocks on credit. When the stock market crashed, a lot of people lost everything they had (or almost everything they had.) Banks closed, factories shut down, unemployment increased, and the economy slowed significantly. President Hoover at first didn’t do much to end the Great Depression. He believed the Great Depression was part of the business cycle and would eventually work itself out. In his last year in office, he did try to do some things to end the Great Depression, but these actions weren’t enough. Franklin D. Roosevelt became president and began a series of programs called the New Deal. These programs increased the government’s role in the economy. The programs were somewhat successful. However, it was the start of World War II that really got us out the Great Depression. The New Deal proved our system of government could handle very serious events without turning to dictatorship forms of government.
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