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The Great Depression - Online Term Paper

The Great Depression

was the worst economical slump in U.S. history and one, which spread virtually all over the industrialized world.
The depression began in late 1929 and lasted for about a decade. Many factors played a role in bringing about the depression; however, the main cause for was the combination of wealth throughout the 1920's and the wide stock market deliberation that took place during the later parts of the same decade. Money was distributed unequally between the rich and the middle class, between the industry's and agriculture within the U.S. The imbalance of wealth created an unstable economy and excessive speculation in the late 1920's kept the stock market artificially high, but ...

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was coming. A major cause of the Depression was that the pay of workers did not increase at all. Because of this they couldn't afford manufactured goods. While the factories were still manufacturing goods, Americans weren't able to afford them and the factories made little to no money.
Another major cause was related to farmers. Farmers weren't doing to well because they were producing more crops and farm products than could be sold at high prices. Therefore, they made a very small profit. This small profit wouldn't allow the farmers to purchase new machinery and because of this they couldn't produce goods quick enough.
A new plan was created called the installment plan. This plan was established because many Americans didn't have enough money to buy goods and services that were needed or wanted. The installment plan stated that people could buy products on credit and make monthly payments. The one major problem with this idea was that people soon found out that they ...

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The Great Depression. (2008, April 25). Retrieved April 26, 2024, from http://www.essayworld.com/essays/The-Great-Depression/82626

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PAPER DETAILS

Added: 4/25/2008 02:01:22 AM
Category: American History
Type: Premium Paper
Words: 891
Pages: 4

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