The Great Depression was a severe worldwide economic depression in the decade preceding World War II. It began in 1929 and lasted until about 1939. The Great Depression in America had devastating effects. At that time, as in every crisis, some became rich and benefit while others resulted in utter poverty.
On the one hand, we find Gangsters who got richer because organized crime increased. By the early 1900s, alcohol was banned in order to reduce domestic violence, unemployment and poverty. It was because of prohibition that Gangsters took advantage of the situation and they gained control over liquor sales and other illegal activities. One of the most important, successful and violent gangster was Al Capone, he dominated organized crime in Chicago and he corrupted politicians, judges and police officers.
On the other hand, we find immigrants who suffered the worst part of the depression. They were discriminated, they were unemployed, they had no opportunities at all. No possibility of a job, no possibility of improve their lives. They became poor and poorer, for instance, families didn’t have enough money to survive and they couldn’t pay their rent so they lost their homes. Because of that, many homeless began to wander, and they were called “hobos”. They were desperately in need.
Finally, as we have seen before, during crisis there are people who result favoured and others who have to suffer the worst of it. There are people who take advantages of hard situations, hurting the most helpless. Of course it is very unfair but it is something very difficult to change.
The Research paper on The Great Depression 3
A large amount of literature including research and text books, exist on the subject of the Great Depression. It is considered by many economists as the worst economic crisis in American History. Statistics suggest that from the business cycle peak in 1929 to the trough in 1933, the real Gross Domestic Product (GDP) contracted by 39%. From 1929 to 1933, the unemployment rate rose from 3. 2% to 25% ...
