Progressive Era Through the Great Depression Research Paper

Progressive Era Through the Great Depression - Research Paper Example However, we can say that the timing was a bit different across various nations. This was the most wide spread, deepest and longest depression within the twentieth century. This period of immense depression started in the United States starting with a fall in stock prices and the subsequent crash of the stock market and then spread to the other nations of the world (Bernanke, 2000). This period of depression had devastating effects in many nations that it hit characterizing a plunge in international trade, a rise in the unemployment levels with magnificent falls in prices and profits. The various developmental industries got hit hard causing collapse of some. Historical turning points of the enormous depression mainly concentrated on the measures that brought about a halt that reversed the trend and effects of the depression. In most nations, the acclaimed depression recovery started at around the year 1933 and took over a decade to return the economy back to normal and stability. Roosevelt’s introduction of the new deals policies was the first principal cause and accelerator of the recovery process. However, they lacked aggressiveness to return the economy back to normal. Such policies were inclusive of the banking act of 1935. The advent of the World War II also favored the reverse of depression and raise in the economy as government spending on the war stopped and the funds reverted to rising of the economy.