Depression - 2810 Words

. The Great Depression was a period of unprecedented decline in economic activity. It is generally agreed to have occurred between 1929 and 1939. Although parts of the economy had begun to recover by 1936, high unemployment persisted until the Second World War. Background To Great Depression: * The 1920s witnessed an economic boom in the US (typified by Ford Motor cars, which made a car within the grasp of ordinary workers for the first time). Industrial output expanded very rapidly. * Sales were often promoted through buying on credit. However, by early 1929, the steam had gone out of the economy and output was beginning to fall. * The stock market had boomed to record levels. Price to earning ratios were above†¦show more content†¦Global Downturn. America had lent substantial amounts to Europe and UK, to help rebuild after first world war. Therefore, there was a strong link between the US economy and the rest of the world. The US downturn soon spread to the rest of the world as America called in loans, Europe couldnt afford to pay back. This global recession was exacerbated by imposing new tariffs such as Smoot-Hawley which restricted trade further. Different Views of the Great Depression Monetarists View Monetarists highlight the importance of a fall in the money supply. They point out that between 1929 and 1932, the Federal reserve allowed the money supply (Measured by M2) to fall by a third. In particular, Monetarists such as Friedman criticise the decisions of the Fed not to save banks going bankrupt. They say that because the money supply fell so much an ordinary recession turned into a major deflationary depression. Austrian View Austrian school of Economists such as Hayek and Ludwig Von Mises place much of the blame on an unsustainable credit boom in the 1920s. In particular, they point to the decision to inflate the US economy to try and help the UK remain on the Gold standard at a rate which was too high. They argue after this unsustainable credit boom a recession became inevitable. The Austrian school doesnt accept the Friedman analysis that falling money supply was the main problem. They argue it was the loss of confidence in the bankingShow MoreRelatedDepression : Depression And Depression927 Words   |  4 Pagesthe word Depression. Now that I am older I know not to use that term so loosely because depression is a disorder that is very serious. According to the Mayo Clinic Depression, also known as major depressive disorder is a mood disorder that causes a feeling of sadness and a loss of interest. Depression can cause physical problems because it affects how you think along with how you act. For exam ple, you may not want to do activities that you normally would, due to this disorder. Depression does notRead MoreMy Depression And Depression : Causes Of Depression1080 Words   |  5 Pages Days in Depression When my classmates glance at me walking up the stairs next to them, I know their first impression is not the truth; at least not the whole truth. They may think, â€Å"she’s lucky she can get up early enough to go grab that venti coffee she has† or â€Å"she must have 8ams considering the pajamas she is still wearing,† but I would bet they never think â€Å"that girl looks like she suffers from severe depression.† My name is Amanda Rieper. I am 19 years old, and I do, in fact, suffer fromRead MoreDepression And Sadness Of Depression1423 Words   |  6 PagesTaylor Neighbors Winters English 1301.91 11 November 2015 Depression and Sadness Imagine you are in the middle of a monumental ocean surrounded by heavy, crashing waves. (TS) The sky is black, and the water is cold. Suddenly, the current pulls you under and you forget how to swim. You are desperately gasping for air, fighting the current, but you continue to sink uncontrollably. You scream and with every ounce of the little breath left in your lungs, but nobody hears you; nobody saves you. Your bodyRead MoreDepression And Its Effects On Depression1490 Words   |  6 PagesIn popular culture depression has become a thing that is seemingly almost sought after. A lot of youth use depression to have an edge or some kind of thing that makes them different. I feel like this ideology invalidates people with real mental illness and diagnosed depression. I say this but have also fallen victim to this aesthetic or aura that a lot of people portray. Although hard to define, depression can basically be summed up to be the lack of hope or courage pertaining to your life. It causesRead MoreDepression And Depression In Wurtzel931 Words   |  4 Pagesher life while dealing with depression and its symptoms. Having depression at a young age had affected her whole life and has made it difficult to act normal. Wurtzel expresses her sadness and copes in destructive ways such as cutting and doing drugs. The book goes on a journey of her life and the issues she goes through, meeting people, and dealing with additional problems. The novel’s main conflict is battling with depression and the urges of dealing with depression. I believe young readers wouldRead MoreDepression And Its Effects On Adolescent Depression1290 Words   |  6 PagesDepression is an issue facing a large amount of people today. It has becoming increasingly known that a lot of depression begins to start in the adolescent years for many individuals. The social work profession is critical in helping this adolescent depression not lead to further depression in adulthood. To understand adolescent depression and what is needed to help people suffering from it, we need to further understand the prevalence of adolescent depression, the effects it has on teens sociallyRead MoreDepression1008 Words   |  5 PagesDepression Teresa Collick HCA/250 April 24, 2016 Depression has always been a major health issue going back for many years. Initially being called â€Å"melancholia† it appeared in the texts of the Mesopotamians in the second millennium. It was then thought of a demonic presence that required a priest to be in attendance. The understanding was that depression wasn’t considered a physical issue but a spiritual or mental illness. The BabylonianRead MoreThe Effects Of Depression And Its Effects On Depression1642 Words   |  7 Pages Depression, 2 Every single day, across the entire world, people are diagnosed with clinical depression. I think a lot of people tend to see depression as a excuse/reasoning for something they ve done. In reality, there have been many discussions done and research studies completed on depression to see whether or not it is genetically passed down or learned through experiences/influences. I think it is safe to say that both genetic and environmental factors play a role in depression. InRead MoreA Brief Note On Depression And The Depression2842 Words   |  12 Pages Robyn Lawhorn July 11, 2015 Psychology 100 Mrs. Fischer Hours Worked: 22 Major depression, also known as unipolar depression, is one of the most common mental illnesses. Over nine million adults each year suffer from depression. Many people don’t understand what depression really is, including myself until I did a lot of research over this subject. Major depression is more than a temporary state of being sad. It is a persistent state that can significantly impair an individual’s thoughtsRead MoreDepression Essay : The Causes And Effects Of Youth Depression1566 Words   |  7 PagesCauses and Effects of Youth Depression Most individuals spend a short downcasted period in their lives, but some individuals experience an extended period of dejection. This may be the cause of depression. Depression is a mental disorder that feeds on the negative self-evaluation of an individual. Eventually the individual is blinded of any positivity in their life by the overwhelming pessimistic views of a situation, continuing the cycle. Awareness of adult depression is substantial, but unprogressive