TARLAC STATE UNIVERSITY

THE GREAT DEPRESSION

A Reaction Paper Submitted to

Prof. Shiela Jane L. Gonzales
Tarlac State University

In partial fulfillment for the course

Economic Development
MASEco 1

By
Mark Lawrence D. Yusi
BSA 1I

September 2019
 TARLAC STATE UNIVERSITY

The Great Depression, New Deal, New York. At this time the people are losing confidence in
capitalists, as the banks are failing came the hopes and dreams of average citizens with it. This was that time
where one third of the New Yorkers are living in slams or squatters as we interpret in the Philippines. Then
came the immigrants from the carribean and the black people from the south. Its a case of scarcity. New York
just doesn’t have enough space for homes and resources for its population at the time. Franklin D. Roosevelt,
who was the the president at the time tried to save the economy by creating these federal agencies. One of
these was the NRA or National Recovery Administration. Which to stimulate business recovery among firms
through fair-practice and eliminate unfair trade practices. Then came Mayor Fiorello La Guardia. Mayor La
Guardia together with president Roosevelt they expanded and redefined the role of government in the lives of
the American people. With Roosevelt’s speech that sparks the heart of people to have hope in the financial
system. And he restored the confidence in banks and the promise of recovery. Even through all of these
events. Discrimination is still imminent among the poor and more so the Black community. These people
depended on reliefs due to that they don’t have anything. The discrimination has worsen by this time, Even
though Roosevelt’s NRA was intended for non discriminatory equal employment and fair wages for both
black and whites. But that was not the case, black people barely had jobs and the few that had jobs had racist
wages to compensate their work. The blacks were excluded in the society of white people and often are
forced to organize in separate societies.
The issue with the discrimination came to an end due to the event that a black American man was
appointed to benefit his people. From the point onwards the efforts of President Franklin D. Roosevelt and
Mayor Fiorello La Guardia came the effects to take in effect. The recovery of America was improving bit by
bit. The growth and recovery was not instant and it has to take steps in implementing it through the whole
economy but it is clear how the United States of America survived the disaster in their economic fall down. It
is evident that they have learned from their mistakes as so us, the countries that is experiencing a certain
degree of poverty. Its not easy to recover from that great fall down but they survived and became stronger as
we should be. Not only be applied to our governments and society but also with our selves. The main take
away here is no matter how hard the fall. The higher you’ll bounce back. We all just need the right set of
people with the right set of minds and heart and we will push through anything that life would offer. As a
conclusion, Learn from every mistake and don’t give up on finding the right way to stand up and when you
do, always keep your feet firmly on the ground.