THE GREAT DEPRESSION

All over Europe and America a serious economic crisis known as “The Depression” was
taking place in October of 1929.
It is possible to argue that Britain missed an opportunity to reform the economic structure
of the country after the war. But instead careful planning, businessmen were allowed to
make quick profits, particularly in the cotton mills, the shipyards and engineering
industries. But perhaps there was little the government could do to control the situation, as
it was not in control of economic forces.
The collapse of the New York Stock Exchange led to economic depression in the Western
democracies.
Since 1930 to 1933 “The Depression” affected Britain most severely when over three
million workers were unemployed. The areas most affected by the depression were those
which had created Britain's industrial revolution, including CLYDESIDE, BELFAST and
THE INDUSTRIAL NORTH OF ENGLAND.
The working class in these areas still lived in poor conditions. There was little hope for
these people because almost no one was willing to invest the large amounts of money
needed to get industry working again.
In 1932, the worst year, the index for industrial production was only just above half what it
had been in 1929 and the national income fell by 38 per cent. Although they had less far to
fall than the rich, the poorer sections of society suffered the most.
Since 1929 to 1933 Britain’s world trade fell by half the output of heavy industry fell by a
third, employment profits plunged in nearly all sectors.
Unemployment began a modest fall in 1934 and fell further in 1935 and 1936, but the rise
on employment levels interest occurred mostly in the south, where lower interest rates had
spurred the house building boom, which in turn spurred a recovery in domestic industry.
In the 1930s the British economy started to recover. This could be seen in the enormous
number of small houses which were being built along main roads far into the countryside.
By 1937 British industry was producing weapons, aircraft and equipment for war, with the
help of money from the USA.

LITERATURE DURING THE DEPRESSION

Thomas S. Eliot: His major works, in particular THE WASTE LAND (1922) and
the FOUR QUARTETS (1935-1942) have given new poetic expression to the
modern consciousness.
FOUR QUARTETS, this major poetic sequence have many allusions to the Bible, to
mystical religious literature, and to Dante, presents a sustained exploration of the
relations between moments in human time and moments of spiritual eternity.
David H. Lawrence: He was the first major novelist to have truly working-class
origins. Novels which explore the interrelation between the individual self, the
social self and nature, in particular those of Lawrence, who explored the psychic ills
of contemporary society through the inner experience of individuals and their
relationships and who looked for more instinctive vitality than could be found in
most contemporary society.
Walter Greenwood: He was an English novelist, best known for the socially
influential novel LOVE ON THE DOLE (1933), It is a novel of the 1930s
Depression. It represents contemporary working-class concerns in a language that
blends with romantic fictional conventions.

ESCAPISM LITERATURE goes hand in hand with serious concerns all through the
Depression of the 1930s. The trend has continued through to the present day.