Question

In: Economics

how would you describe the attitude of Americans during the Great Depression?

how would you describe the attitude of Americans during the Great Depression?

Solutions

Expert Solution

The Great Depression period started in August 1929 and ending in March 1933 (which means 3 years 7 months); and it changed the country drastically. There were 2 million homeless people in the country during the Great Depression. During this period practically every individual adjusted to a different style of living than what they were used to. However the Depression-era Americans were optimistic and remained hopeful for the future. They were open to government spending. The people of the country demanded government policy solutions to rising income insecurity and widespread unemployment. The trust of Americans in U.S. government was not boundless. Nearly half of Americans rejected public ownership for the railroads and their opinion split on takeovers of the bank. With nearly margin of 50%-to-42%, people in the mid-1930s disapproved the idea of government limiting the private fortune's size. Moreover almost half (45%) public favored sales tax in their state to increase revenue. Also, nearly 49%-to-32% margin supported a taxing income from federal bonds


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