Th ere is lots to write about American events and among them is the Great Depression', that took place in the United States of America during the 1930s. The long and widespread depression of the 20th century was started in 1929 and lasted till the late 1930s. This economic turmoil was started after the fall of stock prices began in early September 1929 and this turmoil became worldwide news on 29th October 1929 when the stock market was crashing , this day is known as Black Tuesday. Between 1929 to 1932 the stock market lost 90% of its value and it takes 25 years to recover. This massive event lost the confidence of investors and even those who have not invested money also lose because banks invested their money from saving account. The economic output was $105 billion, at today's price it is estimated $1 trillion. Depression proved that the classical theory of Adam Smith called Laissez Faire was proven failed that was associated with President Herbert Hoover...
The only true wisdom is in knowing you know nothing. Socrates