Federal Deposit Insurance Corporation, Social Security Act of 1935, Dust Bowl Free Essay Example, 1000 words

In the 1920s, the theatres for movies and radios were the most popular entertainment. However, movies outweighed the use of radios because they were expensive to purchase. Additionally, dancing was famous during the entire process. FDIC is the Federal Deposit Insurance Corporation. It is an independent corporation and was created in 1933, to promote public confidence and stability in the nation s banking systems. The social security Act was developed to tackle old age, poverty unemployment and the burden of widows. It gave the federal government the power to assist the less fortunate, in the society. The dual bowl was caused by severe drought and poor agricultural practices leading to environmental damage to the product. The great depression was a serious problem for American society but the causes of the great market crash were different and have not been understood by economists. The crash of the stock market of 1929 on black Tuesday, October 29, 1629, was the principal cause of d epression experienced. The crash led to massive loss totaling to more than $40 Billion Dollars (Foner 78). The loss was so immense that led to poor recovery for the country increasing the risk of entry into the great depression. We will write a custom essay sample on Federal Deposit Insurance Corporation, Social Security Act of 1935, Dust Bowl or any topic specifically for you Only $17.96 $11.86/pageorder now Coupled with the stock market crash banks failed in the 1930s leading to loss of savings because bank deposits were not insured. The collapse of the banks reduced bank loans leading to less expensive than initial. The crash of the stock markets reduced the spending capability of individuals through fear of further economic woes. Unemployment and job losses led to a reduction in purchasing power. In addition, American economic policy changes as a result of the ailing economy. The government created the Smooth-Hawley Tariff to protect the American companies. The policy charged high tax for imports reducing the amount of trade between America and the rest of the world.