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Causes Of The Great Depression
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In 1929 the stock market crashed, triggering the worst depression ever in U.S. history, which lasted for about a decade. During the 1920s, the unequal distribution of wealth and the stock market speculation combined to create an unstable economy by the end of the decade. The unequal distribution ....
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....ericans at the lowest end of the economic scale received only 12 percent of the national income by 1929 (EV 549). This maldistribution of income between the rich and the middle class increased throughout the 1920’s. A major reason for this large and growing gap between the upper class and the working class Americans was that the manufacturing output increased throughout this period. As the production costs fell, wages went up slowly, and prices for goods remained at a constant. The majority o.... |
| Number of words: 1634 |
Approximate pages: 6 |
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