Stock Market Crash
The Roaring Twenties is the decade that followed WWI and led to the Stock Market Crash. It was a time of wealth and excess. While American cities prospered, the overproduction of agriculture produce created widespread financial despair among American farmers throughout the decade. It is believed it is one of the reasons for the Great Depression.
Impact on America
The stock market crash was not the sole cause of the Great Depression, but it did accelerate the global economic collapse. By 1933, nearly half of America's banks had failed, and unemployment was approaching 15 million people, or 30 percent of the work force.
Impact on American Literature
There was a new wave of writers that began to look at politics and economics for inspiration. The writers saw capitalist America as a dying society in need for revolutionary changes. Never before have Americas's best writers focused on the lives of the poor and the working class or have written with such political sense.