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Great Depression 6
Beginning of essay
The great depression from 1929 and into the 1930's, is the period in modern times with the largest unemployment, and the highest frequencies of bankruptcies. But can one from this say that "the Great Depression" was a breakdown of capitalism? Or was it simply an economic low-point that had to follo ....
Middle of essay
....s plunged on Wall Street in 1929 the US banks began to call in their foreign loans. They had also loaned money to many people who as a result of the Crash could not repay it. Meanwhile, those who had money on deposit at the bank began to withdraw it. Without enough money to pay depositors, many banks collapsed. A shortage of cash meant that there was less money to invest in industry and less money to be spent on industrial and farm products. Many banks had to close down, and were the mere symbo.... |
| Number of words: 781 |
Approximate pages: 3 |
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