Thesis: Are we headed towards a depression

Sample Thesis Paper

The great depression which occurred in the 1930s was an economic downturn that originated in the United States and eventually spread all over the world. The starting point for it is mostly considered to be the day the stock market crash on October 29, 1929 which is also known commonly by historians now as black Tuesday. This topic will consider the great depression from a statistical perspective and consider if the United States is currently headed towards another depression.

Though the stock market crash was the main trigger of the depression there were also other causes which precipitated the economic downturn. With severe losses in the stock market and a subsequent drop in wages people began cutting back their expenditures. This was exacerbated by the decisions made by central banks to overinvest in a time of lower aggregate expenditures leading to an unsustainable credit boom. There were also failures on the parts of several banks such as the New York Bank of the United States who produced panic runs while the Federal Reserve did nothing to alleviate this producing a sharp decrease in investments. The declines in the labor market as well as productivity lead to a sharp disparity between the social classes. This was further increased by the sharp decrease in international trading (McElvaine, 1993).

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