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Great depression 8
"The Great Depression of the 1930's was a worldwide phenomenon composed an infinite number of separate but related events." The Great Depression was a time of poverty and despair caused by many different events. Its hard to say what caused this worldwide depression because it's all based on opinion as opposed to factual data. There are many contributing factors but not one specific event can be pin pointed for starting the depression. It is believed that some events contribute more than others-such as the Stock Market Crash of 1929.
The Stock Market Crash of 1929 was in the majorities opinion, a long and overdue crash that was bound to happen. Prices sky-rocketed so high that when they reached what was believed to be it's all time high, most people sold their gaining stocks for a profit. So many people sold their stocks at a rapid rate that the corporations were unable to pay the shareholders. Speculation arouse months before the crash when Roger Babson made his speech at the annual National Business Conference which he said "..... Sooner or later a crash is coming which will take the leading stocks and cause a decline from 60 to 90 points in the Dow Jones Barometer." This and many others speeches like this scared people into selling there stocks before the inevitable would happen. This was a leading causes that assisted the Great Depression become one of the bleakest and most studied events in the history of our country: yet not the only cause.
Another large contributing factor was Mother Nature, I say this because in Oklahoma the weather was so dry that the farmers were unable to harvest their crops: these farmers became known as Okies. The land was a barren wasteland of dust and dirt in which it got it's name the Dust Bowl. In other areas, the extreme opposite took place: farmers overproduced and prices rapidly dropped because the demand decreased. The drastic result of this oversupply made it hard for farmers to make money due to the fact that they had so much that they were forced to sell it at substantial low priced just to remain competitive enough to make even the small profit they were making. The imbalances were however, self correcting in which if manufacturers made too much of something, it's price would fall, profits would disappear, and the producers would cut back on output. In 1932 the American writer, Stuart Chase described cycles as "the spree and hangover of an undisciplined economy."
Economists recognized the depression as a cycle in which there were four cycles; expansion; crisis(or panic); recession (or contraction); and recovery. The definitive description was made by Wesley Clair Mitchell of the University of California. A cycle Mitchell explained in Business Cycles(1913) was "the process of cumulative change by renewal of [Economic] activity develops into intense prosperity by which the prosperity engenders a crisis, by which crisis turns into depression and by which depression finally leads to.... a revival of activity."
Banks played a significant role in the depression because they were in charge of all the money and interest rates. For example when banks had large reserves, they lowered interest rates. Cheaper loans encouraged manufactures to invest in new equipment and hire additional workers. The resulting expansion of production caused an upswing of the cycle. The increased borrowing eventually reduced the bank's reserves, thus resulting in a drastic increase of interest rates. That discouraged investors and slowed the economy down. Another good explanation was the bad distribution of wealth for the cycles. During these challenging and difficult times the rich opted not to spend there money: they saved in banks, vaults, etc. This resulted in increased investments, more production, and eventually more goods piled up on shelves and warehouses. Prices fell, production was cut back and workers were discharged. As a result, the economy entered the depression phase of the cycle.
The crisis stage of the cycle was brought about by bank failures and by irrational selling of stocks ;thus causing business failures, a slowing in production, a rise in unemployment, and an overall optimistic view about the future.
Another helpful aide in the depression was the chief International creditor ... more
Find essay on Public Sentiment
Great Expectations- Character Analysis
Most readers are appalled at the cold-hearted and cruel ways of Estella, but any criticism directed at her is largely undeserved. She was simply raised in a controlled environment where she was, in essence, brainwashed by Miss Havisham. Nonetheless, her demeanor might lead one to suspect that she was a girl with a heart of ice. Estella is scornful from the moment she is introduced, when she remarks on Pip's coarse hands and thick boots. However, her beauty soon captivates Pip and she is instilled as the focal point of his thoughts for much of the remainder of the novel. The fact that Pip becomes infatuated with her is also not Estella's fault. By no means is there any evidence that she loved him. She does not flirt with him in any way. Rather, she tortures Pip with her cruel treatment. Despite her abhorrent quality, Estella is extremely candid; because she seems to have no need for affection, she is able to tell things as she sees them without a thought of what someone else may think. This is in contrast to Pip's obsession of his every action being approved by Miss Havisham and Estella. Estella is also quite intelligent. She is very aware of the manner in which Miss Havisham raised her. She tells Miss Havisham, "I am what you have made me. Take all the praise, take all the blame; take all the success, take all the failure; in short, take me." (Chapter 38). Finally, by the end of the novel, Estella has changed. Through her marriage with Bentley Drummle, she has suffered to learn some valuable life lessons that have transformed her character. Pip remarks on the stark reversal of the once hard Estella, "...what I had never seen before, was the saddened softened light of the once proud eyes; what I had never felt before, was the friendly touch of the once insensible hand." (Chapter 59).
Joe is the only one of Dickens' characters who stands opposed to and apart from the main current of action. He stays away from London, for the most part, and only intervenes when needed. He is always present in Pip's mind, and tends to remind both Pip and the reader of those values in Pip that were crushed during the evolution of his expectations. Joe is an honest and industrious fellow, although he sometimes comes across as foolish to other characters in the novel. He is also a generous and forgiving man, which is illustrated by his reaction to having some food taken from his house by the convict. Joe tells the convict that he was welcome to it, since it kept the convict from starving. Joe is also the only character in the novel with no real property. All that he counts as his own are his tools; all else, in Joe's mind, belongs to Mrs. Joe. His freedom from material goods and the desire for them sets him apart from the "gentlemen" like Pumblechook in the novel. Joe was a child of an abusive family; his father was a drunkard and beat Joe and his mother. The epitaph that Joe composes for his father reveals the extent of his forgiving nature. The same epitaph, "Whatsum-er the failings on his part, Remember, reader, he were that good in his hart," applies to Pip, as well, as he finishes his adventures. Joe is far more significant than the virtuous and kindly blacksmith he appears to be. Dickens refers to him as "holy", and the cottage has an air of "sanctity" for Pip. Joe is opposed to all false values, and does not present his view in bombastic speeches, but rather within himself and in his convictions. Joe also rejects the importance of property, pretty speech, and manners. Joe is also a very honorable and dignified man, which is sensed immediately by Miss Havisham. His understanding of peopleand his sensitivity allows him to sense intuitively whether he is wanted by Pip or is merely making him uncomfortable. The fire of Joe's forge is the light of the innate goodness of man, and a light of hope amidst the false lights of the world that Dickens ... more
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What They say About Free Essay
I also want to thank http://freeessay.com , pantip and wikipedia for make it happens. #storytelling
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U: Great depression 8
Great depression 8 The Great Depression of the 1930's was a worldwide phenomenon composed an infinite number of separate but related events. The Great Depression was a time of poverty and despair caused by many different events. Its hard to say what caused this worldwide depression because it's all based on opinion as opposed to factual data. There are many contributing factors but not one specific event can be pin pointed for starting the depression. It is believed that some events contribut...
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