what is the importance of the great depression to the development of the US?

Answer 1

It taught us how important it is to protect our assets, especially money and cash; this is why the FDIC (for banks) and the NCUA (for credit unions) exist today. In the event of closure today (or in the rare case we experience another national financial crisis), these agencies will protect your cash for up to $100,000. This is also why many elderly folks today who lived during that time still keep cash in their mattresses and other hidden places, so they wouldn't have to worry about losing it like that again.

Because of the giant selloffs that caused banks to close and then the direct events leading up to the market crash, we no longer have to worry about losing large amounts of money such as our nesteggs and savings.

Answer 2

The great depression helped start the anti-communist post war movement. During the depression, so many people were out of work that communism and socialism were seriously considered by many, and feared by industrialists.

Prohibition, coincidently a second problem in the depression, led to more alcohol related deaths and a higher alcoholism rate than before prohibition. This was due to the switch from beer and wine to hard liquor, as well as the poor quality of much of the alcohol. Prohibition also led to the great expansion of organized crime.

It's not hard to see how the effects of the great depression are still felt today.

Answer 3

"The Great Depression was a decade of unemployment, low profits, low prices, high poverty and stagnant trade that affected the entire world in the 1930s."

I found this from a website which you can check out.
http://en.wikipedia.org/wiki/Great_Depression_in_the_United_States

Hope this will be helpful to you. Good luck!