THE MAIN CAUSES OF THE GREAT DEPRESSION BY PAUL ALEXANDER GUSMORINO THE THIRD

The Great Depression was the worst economic slump evermore in U.S. history, and one which spread to virtually all of the alter world. The depression began in late 1929 and lasted for virtually a decade. more factors played a role in bringing more or less the depression; however, the main cause for the Great Depression was the confederacy of the greatly unequal dissemination of riches throughout the 1920s, and the long stock securities industry speculation that took place during the latter elongation that same decade. The maldistribution of wealth in the 1920s existed on many levels. specious was distributed disparately between the rich and the middle-class, between industry and agriculture inwardly the United States, and between the U.S. and Europe. This imbalance of wealth created an unstable economy. The ebullient speculation in the late 1920s kept the stock merchandise artificially high, but eventually lead to large market crashes. These market crashes, co mbine with the maldistribution of wealth, caused the American economy to capsize. The roaring twenties was an era when our country prospered tremendously. The nations total realized income rose from $74.3 gazillion in 1923 to $89 billion in 19291. However, the rewards of the Coolidge Prosperity of the 1920s were not divided up evenly among all Americans. According to a employment through by the Brookings Institute, in 1929 the top 0.

1% of Americans had a unite income equal to the bottom 42%2. That same top 0.1% of Americans in 1929 controlled 34% of all nest egg, while 80% of Americans had no savings at all3. Automotive industry mogul atomic number 1 fording provides a striking exampl e of the unequal distribution of wealth betw! een the rich and the middle-class. Henry Ford account a personal income of $14 million4 in the same division that the intermediate personal income was $7505. By present day standards, where the number yearly... If you sine qua non to get a full essay, order it on our website: OrderEssay.net

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