How Did The Depression Affect The Great Depression

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How British society was affected by the Great Depression Iman Lozi 9S The world, to this day suffers from economic disasters that can have long lasting impacts and leave people traumatized. These have taken place numerously throughout our history, however one that still impacts society today and has shaped our world, is The Great Depression. In a way, a form of the Great Depression is still occurring. The Great Depression was a period of time, lasting about ten years (1929-1939) that brought many countries, their economies and societies into a long lasting fall. This saddening economic turndown deeply affected both the financial and social aspects of the country and it’s people. One of the main kingdoms that was affected by the Great Depression was the United Kingdom. Therefore throughout this essay I will be reviewing the United Kingdom's, economic, historical and financial sectors, as well as the people themselves…show more content…
However, it all started with the United States, it all began with a disastrous collapse of several stock-market prices on the “New York Stock Exchange” in around October 1929, this was very problematic since New York was considered one of the main states for business in the US, therefore, during the next three years stock prices all through the United States continued to fall. Besides destroying multiple of thousands of individual/private investors, this rapid decline in the value of assets greatly affected banks and other main branched financial institutions. In 1933 this lead to 11,000 of the United States' 25,000 banks had failed (almost 50%). The immense failure of so many banks, combined with a general loss of confidence in the economy, greatly reduced the amount of spending and production and sales, aggravating the downward spiral. The main result was drastically rising

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