Contrary to popular belief Wall Street's great crash of 1929 was not the "cause" of the Great Depression that followed. However, I was just wondering, can one of you history buffs please tell me what was so "great" about the Great Depression?
2007-08-18 10:29:34 · 10 answers · asked by Anonymous in Arts & Humanities ➔ History
the Us had suffered through over a half dozen depressions since the founding of the country, but they where regional mostly, many lasted several years. the reason the Depression that was initiated by the crash of 29 is called great , is that it wa the worse and more full in scope and over all impact on the entire US economy, none previous had affected all areas of the US, all businesses and all walks of the financial life. there had been a world wide depression going on since the early 20s in Europe and other nations around the world, fro fall out for the damaging effects on fragile economies by the ravages of world war one, the US, still pretty isolated in world trade, was doing fine, but people where living on to much credit (sounds kind of like today), and with the crash of the stock market, and then a few years later the dust bowl of the midwest which devastated the food basket of the nation, things got very bleak in cites and town all over the US, that is why it is called the "Great" depression, for it's large scope of effectm not that it wa good.
2007-08-18 17:38:45 · answer #1 · answered by edjdonnell 5 · 0⤊ 0⤋
It is known as the "great" depression, because at the time it was one of greatest effects on America's economy. The 1929 wall street crash wasn't the sole cause, but it did have a part in it. So for your question it was great due to its tremendous economic affect, the "greatest", one America's history has seen up until that point.
2007-08-18 10:41:34 · answer #2 · answered by Ally... 5 · 1⤊ 0⤋
There were no government programs, no social security, no welfare, absolutely nothing. Crops in the Midwest failed because of over use of the soil and created the "dust bowl". Workers could find no jobs as more and more lay offs continued. And yes, the stock market crash of ' 29 may not have been the SOLE reason but it certainly was a major contributing factor. It lasted the decade of the 30's. More percentage of people were out of work than ever before or since. THAT's why it was great.
2007-08-18 10:48:55 · answer #3 · answered by Gardner? 6 · 1⤊ 0⤋
Great as in the magnatuide of depression.
It was deeper than normal depression which made it great depression; like a great flood. Not great as in, "they had a great time."
g-day!
2007-08-18 11:35:48 · answer #4 · answered by Kekionga 7 · 0⤊ 0⤋
Because the impact not only affect most of American but also - to some extent - the rest of the world.
2007-08-18 10:37:33 · answer #5 · answered by dodol 6 · 0⤊ 0⤋
Welll as far as i think.....that depression made way to the great development to follow...may be thts why its called the great depression...lol
2007-08-18 10:37:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
In this case Great means size, not wonderful. It evolved the whole word .
2007-08-18 10:40:40 · answer #7 · answered by pms 4 · 1⤊ 0⤋
As one who remembers it, "The Great Depression" was 'great' because it was severe and long-lasting.
2007-08-18 10:35:36 · answer #8 · answered by anobium625 6 · 2⤊ 0⤋
Not "great" as in Fabulous. Great as in it the # of people it effected and the degree to which it effected them.
2007-08-18 15:11:08 · answer #9 · answered by beth l 7 · 0⤊ 0⤋
it was "great" because it affected the whole world, and it had a great impact on everyone.
2007-08-18 10:37:00 · answer #10 · answered by serendipity 2 · 1⤊ 1⤋