great depression

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Effects of the Great Depression Many times throughout history the United States has undergone economic depression. The most recognized period of economic depression is called the Great Depression. The Great Depression is well known because of the seriousness of the stock market crash. The results of the crash were more serious than any other crash throughout American History. The Great Depression caused a change in the nature of the American family, an increase in poverty, …

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…enormous effect on American life. It effected family life by altering the status of the family members. Poverty increased as seen through the number of collapsed American businesses, closed banks, and lowered employment rates. President Hoover balanced the economic needs of the country with his personal belief in "rugged individualism." He proposed a series of acts to address these economic needs including the Reconstruction Act, the Stealgal Act, and the Federal Home Loan Bank Act.