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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 Republica .... Middle of Essay
.... were many things which contributed to the economic deterioration leading to the depression; lingering effects of WWI caused the government to cut back spending in order to balance the budget, resulting in a severe recession. The value of farmland falls 30-40 percent. Severe Declines in organized labor. Many workers lose their jobs as more advanced machinery makes them unnecessary.
The acute phase of the Great Depression began in October 1929, with the Wall Street Crash and continued through the early 1930s. After share prices plunged on Wall Street, US banks were forced to call in their foreign and domestic loans. However most people were alrea ....
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Words: 393 - Pages: 2
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