The Great Depression Essay Example | Topics and Well Written Essays - 1000 words

The Great Depression - Essay Example The great depression started in the industrialized North America when the stock market exchange on Oct.29, 1929, commonly known to be â€Å"The Black Tuesday† (Nick Taylor-American Made). As at this time, the output fell by 23% losing more than ten billion US dollars. The market decline was due to disparity between the consumption and production sectors. The production power was due, but the consumption rate was wanting. The producers had to credit their products resulting to lack of finance to these companies hence a subsequent drop in the wages and loss of jobs for the employees (Stock, 1997:177). Many banks realized great loses some of which even saw their closure because most of them had heavily invested in market shares. The problem was major in America but it spread to other countries leading to an economic slump due to forged intimate relation that came in between the United States and the European countries to terminate the First World War. Since United States had emer ged as the super power of the First World War, its economic back thrash had effects across the globe. The depression persisted up to 1932 when the then president of USA Herbert Hoover realized that he had a hand to lend to terminate the depression. In his speech president, Hoover underrated the crisis and said that it would ultimately end. He did not realize that he had to supply food to the hunger stricken population in North America. People raised blame over him for the big economic crisis (Young and Young, 2007:55). Hoover was turned down and an election was called where Franklin Delano Roosevelt won by a large margin. After taking over as the president of United States Rosevelt declared a four-day bank holiday meant relief to relief the banks and make them solvent. During the first one hundred days of his reign Roosevelt set good basis too revive the country from depths of desperation. The great depression had adverse effects to the economy as well as the people of United States . The production level dropped greatly as well as the gross domestic product after the recession started. The lack of market for manufactured goods was the main reason for the decline of the production in the United States (Oakes and Kia, 2004:137). The consumers had lost their purchasing power, which was probably due to the effect of the First World War. Most industries had to give their products on credit leaving them with financial crisis. This led to their immediate closure. The collapse of food prices and lack international market for export made farmers lose morale and quit farming. Credit system in bank declined hence most of the depositors had no option but to withdraw their money from the banks. The experience for the Americans worsened in the 1930s when the agriculture sector leveraged due to the decline in the world market for food prices. The depression also led to lack of jobs in the states. Many people had to move from placer to another hoping against hopes to secure j ob in the towns. The teenagers comprised the large proportion for the job seeking population. This desperate large population had constructed their houses in shantytown in the outskirts of towns, which they made from any available material. The desperate farmers migrated to California in hope to find fertile grounds. Their condition was seriously transient. When he came to power, Franklin Roosevelt instilled hope to the States residents .He started the so-called

Ethical Concerns and Background for Tobacco Companies Essay

Ethical Concerns and Background for Tobacco Companies - Essay Example The purpose of this paper is to discuss and analyze the unethical actions of the tobacco industry. Cigarettes are one of the most addictive drugs in the world due to the fact that it contains nicotine. People that smoke cigarettes are slowing killing themselves since smoking causes lung cancer, heart diseases, and stroke among other diseases. Cigarette smoking causes the death of approximately 5 million per year and the number of yearly deaths is expected to climb to 8 million by the year 2030 (Cdv, 2012). The ethnic group that smokes the most in the United States is Indian Americans possibly due to the fact that tobacco smoking has been ingrained into their culture. One of the most unethical aspects about cigarette companies is the fact that people that do not smoke are at danger due to second hand smoking. It is estimated that 53,800 innocent people die each year from second hand smoking (No-smoke, 2012). The tobacco companies are willingly producing a product that puts at risk the health of the entire global population. Tobacco companies are generating billions of dollars in revenues, but the industry is not accountable for the damage it causes to society. The governments of all 210 countries around the world are suffering a major financial blow due to the actions of this unethical industry. It is estimated that the tobacco industry is costing society $193 billion a year in lost productivity and health care expenditures. Everyone suffers from this epidemic due to the fact that the medical expenses of ill people that suffer from lung cancer and other diseases caused by smoking are passed on to the payers of medical plans. The United States has one of the highest medical costs in the world. Since tobacco smoking does not discriminate between smokers and non-smokers nobody is safe. Tobacco smoking is extremely dangerous in certain demographic groups such as minors and pregnant women. Usually under age teenagers try cigarette smoking for the first time during hi gh school. Due to the addiction of the drug people that smoke early in life are more susceptible to becoming lifetime smokers. Some of the health problems caused by tobacco smoking among children and teens include coughing spells, frequent headaches, respiratory illnesses, reduced physical fitness, shortness of breath, and addiction to nicotine (Cancer, 2012). Adults that smoke should try to avoid smoking around children. Smoking is extremely dangerous for women that are pregnant. Smoking is harmful to the pregnant women and the unborn baby. Babies that are born from pregnant women that smoke are more likely to have birth defects and premature pregnancies. Pregnant women should also avoid being near smokers during pregnancy due to the fact that second hand smoking can also hurt the unborn child. One of the reasons that that tobacco companies are so powerful is due to the fact that governments place hefty taxes on the sale of cigarettes. In 2006 in the United States the government wa s generating $2 in taxes for every box of 20 cigarettes sold (Axdor, 2006). The government has become dependent on the tax revenues generated by cigarettes. Tobacco companies have also over their history utilized questionable advertising tactics. Their promotions make it seem as if smoking is something cool and safe when in reality it is a heath hazard. The time has come for the world to take a stronger stance