The United States of America today is infamous for having the largest economy. At least that's according to Investopedia, one of the best information marketing organizations. Thus the nation became known as the “Land of Opportunity”. There are many benefactors to a great economy, but there are also disadvantages. The stock market crash of 1929 was the result of the combination of rising stock prices, bank abandonment, and unsustainable inflation throughout the 1920s. This resulted in significant unemployment; approximately 30% of the national workforce was now unemployed, large companies went bankrupt, and much of the public had to sell their businesses. Overall the economy was terrible, the great slogan of the United States was presented to the public as a lie. In this article I will elaborate on the many impacts of the stock market crash. Despite all these negative benefactors, the stock market crash paved the way for political reform and economic and industrial revolution. Throughout history, America was known to have the best economy, this phenomenon was so well known that the region was called the “Land of Opportunity”, simply due to the sheer number of investment opportunities. The concept of the “American Dream” was so well known that it led millions of immigrants to come to the United States to start a new life. One benefactor resulting from this extraordinary economy has been stocks. The general public could benefit from these so-called stocks, which were so profitable that many individuals made millions from the industry. This is how a place in the industrial city of New York, a place, became famous for the stock market. This location was known as Wall Street. Brokers would offer you to buy shares of a company, you essentially own a part of that company. If the company does well, the value of that share increases, so a profit is made. If the company doesn't do well, the value of your shares drops, so you lose money. By 1929, stock values ​​had fallen dramatically due to the number of large corporations that unexpectedly failed. Millionaire Wall Street brokers and shareholders who had invested in large numbers of American companies had lost all their investments in value. There were several economic disasters that occurred simultaneously in accordance with each other. All these disasters, some of which included bank runs and inflation, acted as catalysts towards each other. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay The abandonment of banks in the United States was one of the major factors contributing to the stock market crash. Banking activity was significant in all regions located in the United States. Many entrepreneurs deposited their earnings into banking systems, which made it clear that the banking system was significant. This was the fundamental fundamental for those who make profits and invest in savings. Before the market crashed in 1929, there was a time when the public was finally informed about the state of the economy. It was then that all Americans decided that they needed to recover their deposits so as not to lose any more money. In one day, 16.4 million shares were traded. Major banks were forced to close because they had gone bankrupt. There was no currency circulating in the market. Basic consumers, including those who had invested in the banking system, were left empty-handed. Billions in savings have been lost due to the number of individuals returning deposits. This is itwhich caused the “run on the banks,” this event that started in Nashville, Tennessee in the 1930s, where people withdrew all their virtual savings from their accounts. This had a devastating effect on banks to the point of making them completely unreliable. Unsustainable inflation has played a major role in the destruction of America's economy. Inflation is the ideology that general products increase in price over time. Inflation is most common when the value of a currency decreases. After the great market crash, in order to continue to profit from their businesses, companies had to increase their products. This consequently forced the public to purchase the same process for a large sum of money. During this time period, the value of the dollar was decreasing significantly. Therefore, the public began to lose money. This was devastating to the public as banks were not returning deposits while the value of the dollar was declining. People simply couldn't afford to buy products that increased in value. This affected both the public and large companies. As a result, due to the huge loss of funding, these companies have been forced to cut wages or even cut employment altogether. A benefactor that contributes to the development of the economy is the number of people employed. This explains why countries like China and India have extremely sustainable economies. Notably, these nations rarely experience economic disasters. The huge but growing number of employed workers all contribute to the national GDP, which means that national manufacturing and exports are very productive. In the United States, employment rates were very good. The stock market crash had caused a severe economic collapse, following this event there was the Great Depression. This event was probably the most devastating economic downfall in American history. At its lowest point, about 15 million Americans were unemployed. The stock market crash only affected shareholders and intermediaries who, as companies were unable to sustain themselves, had to cut wages and job opportunities. The average family income fell 40 percent from 1929 to 1932. Income dropped from $2,300 to $1,500 a year. Today it is worth $19,000. No one could afford basic necessities. Despite all the negative impacts that the stock market crash has had on the general public, there have been several benefactors who have come out of such a devastating economic disaster. All businesses had lost money, families were left homeless, and overall nothing was getting better. In the mind of every American, President Herbert Hoover was widely blamed for being responsible for the stock market crash. Realistically, the market collapse was the accumulated result of its predecessors' regulations. Many of the unemployed Americans waited in bread lines and lived in places derisively called Hoovervilles. Once the re-election was announced, President Hoover had lost to President Franklin D. Roosevelt by a landslide. This new president promised to provide a better economy for all Americans, who were devastated by the economic collapse. This was just what the general public wanted, so this president was elected easily. Recovery from the Great Depression began in early 1933. Political reform had faced realistic political representation, especially after the market crash. The new president had a plan to provide stability to the economy by providing millions of new jobs for Americans. This had triggered the next one”.