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Causes Of The Great Depression
Beginning of essay
The main cause of the Great Depression was a lack of understanding of economic systems. The Great Depression began in 1929, during Republican President Hoover’s watch. Many try to blame the worsening of the Depression on Hoover, for his deviation from Republican economic ideology. However, almost ....
Middle of essay
....ing from the various economic problems and few were able to pay the banks.
Meanwhile, those who had money saved in banks began to withdraw it. Without enough money to pay their depositors, banks collapsed. People began to hoard money, which contributed to the problem. Times became more difficult because of people withdrawing their funds from the market.
A working economy relies on a circular flow of money; my spending becomes part of your earnings, and your spending becomes part of my earnings.... |
| Number of words: 393 |
Approximate pages: 2 |
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