Great Depression

Definition

The Great Depression was a severe and prolonged economic downturn that occurred in the 1930s, affecting much of the world, including the United States. It had a profound impact on social stratification and mobility, as well as perspectives on aging and the elderly.

5 Must Know Facts For Your Next Test

1. The Great Depression was the longest and most severe economic downturn in the modern history of the Western industrialized world, lasting from 1929 to the early 1940s.
2. It was characterized by a significant decline in industrial production, a sharp rise in unemployment, and a collapse in consumer spending and investment.
3. The Great Depression had a disproportionate impact on certain social groups, exacerbating existing inequalities and affecting social mobility.
4. The elderly were particularly vulnerable during the Great Depression, as they often lacked access to social safety nets and faced challenges in finding employment.
5. The New Deal, a series of government programs and policies implemented by President Franklin D. Roosevelt, aimed to provide relief, recovery, and reform in response to the economic crisis.

Review Questions

• Explain how the Great Depression influenced social stratification and mobility in the United States.
  • The Great Depression had a significant impact on social stratification and mobility in the United States. The economic downturn led to widespread unemployment, which disproportionately affected certain social groups, such as racial minorities and the working class. This, in turn, widened the gap between the wealthy and the poor, as the upper classes were better able to weather the crisis. The lack of economic opportunities and the erosion of social safety nets during this period made it increasingly difficult for individuals to move up the social ladder, leading to a decline in social mobility.
• Analyze the theoretical perspectives on how the Great Depression affected the elderly population in the United States.
  • From a theoretical perspective, the Great Depression had a profound impact on the elderly population in the United States. Functionalist theory would suggest that the economic crisis disrupted the traditional roles and contributions of the elderly, as many were unable to find employment and faced challenges in accessing basic resources. Conflict theory would argue that the elderly were marginalized and deprived of their economic and social status, as younger generations competed for scarce resources. Symbolic interactionist theory would examine how the negative perceptions and stereotypes of the elderly, such as being a burden on society, were exacerbated during the Great Depression, leading to further social isolation and discrimination.
• Evaluate the long-term implications of the Great Depression on the development of social policies and programs aimed at addressing social stratification and the needs of the elderly population.
  • The Great Depression had lasting implications on the development of social policies and programs in the United States. The severe economic hardship experienced by the population, particularly the elderly and disadvantaged groups, highlighted the need for a stronger social safety net and government intervention. This led to the implementation of the New Deal, which included the creation of Social Security, unemployment insurance, and other programs designed to provide relief and support. These policies and programs not only addressed the immediate needs of the population during the Great Depression but also laid the foundation for the modern welfare state, which continues to play a crucial role in addressing issues of social stratification and the challenges faced by the elderly. The long-term impact of the Great Depression on social policies and programs has shaped the way society responds to economic crises and the needs of vulnerable populations.

Related terms

Unemployment:

The state of being without paid work, which increased dramatically during the Great Depression as businesses closed and jobs were lost.

Poverty: The state of being extremely poor, which became widespread during the Great Depression as people struggled to meet their basic needs.

New Deal: A series of economic programs and reforms implemented by the U.S. government under President Franklin D. Roosevelt in response to the Great Depression.