Georgia History
The Great Depression unceasingly changed and effected Americans, the economy, and surrounding nations greatly. Millions of Americans lost their jobs and homes. The economy experienced study defaults in banking and trading. Europe and many other nations were set game from many of our inabilities to finance their needs and help with their broken economies as well.
Many events as a whole led to the depression. In 1919 and into 1920, there was a rapid expansion in businesses that profited from the struggle such as steel, rubber, glass, automobiles, aviation industries, and alsol manufacturers. They were able to motorize and speed up production as well as keep up with the demand for new products created by the stunt woman in electric capacity. When these industries began to decline due to inflation, businesses went bankrupt and 5 million Americans were forced to be laid off of work. brokerage firm firms offered easy credit to people who were buying stock. Over 50 million invested at one time and indulged in shares. thusly the industrial index dropped 10% and stocks became useless over night.
Banks had carelessly lent money to people who couldnt pay them back. In 1929, more than half of the American population lived below minimum comfort level. ¼ of Americans were unemployed in 1932 and 1/3 of Americans wages were reduced. The unequal distribution of wealth was the be sudden cause for this labor chaos.
A severe nook was evident in the early 1920s. Most Industrial and plain production increased, while consumer demand weakened. Portions of profits going to the consumers were too small to create markets. Over 9,000 banks went bankrupt and the decline in money supply led to a decline in purchasing. Manufacturers began reducing their prices and laid off workers to compensate for their financial reduction. Thousands of...If you require to get a full essay, order it on our website: Orderessay
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