During the 1930's, America witnessed a breakdown of the Democratic and free enterprise system as the US fell into the worst depression in history. The economic depression that beset the United States and other countries was unique in its severity and its consequences. At the depth of the depression, in 1933, one American worker in every four was out of a job. The great industrial slump continued throughout the 1930's, shaking the foundations of Western capitalism. …
showed first 75 words of 838 total

showed last 75 words of 838 total
…erupted in September 1939. Causing an enormous growth in the economy as war goods were once again in great demand. No major New Deal legislation was enacted after 1938. The Depression was a devastating event in America, and by regulating banks and the stock market the New Deal eliminated the dubious financial practices that had helped precipitate the Great Depression. However, Roosevelt's chief fiscal tool, deficit spending, proved to be ineffective in averting downturns in the economy.