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The Great Depression. An Overview ... 2002). The events associated with the Great
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The Great Depression. The Great Depression ... goods. The Great Depression had
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Life During the Great Depression & Now. LIFE DURING THE GREAT DEPRESSION
AND NOW The Great Depression was a huge economic disaster. ...
Submitted by melly333jimmysxo on July 24, 2005
Category: American History
Words: 1281 | Pages: 6
Views: 140
Popularity Rank: 57,248
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The Depression was a period of time after the economic boom of the 1920\\\\\\\'s in America, when the economy went downhill. People lost money, jobs, shares, businusses went bankrupt and the farming industry suffered greatly. The Republic Government at the time lead by Hoover was still following policies of Lassez Faire so business was not getting the support it needed to get it back on track.
The Republic Governments Protectionist policies were one of the causes of the great depression. There were trade problems associated with their protectionist policies. The Republic Government made high tarrifs on imported goods. This was to make sure that the Americans were buying their own products. Buying American products meant that they would be keeping the money in their economy instead of sending it to other countries. Other countries, now unable to export goods to the Americans retaliated by increasing their tarrifs on american goods. America could no longer export their goods to other countries. Mass production meant that there was more goods being produced than what needed to be but because other countries had high tarrifs on American goods, they could not be exported. Output became greater than demand so goods cheapened in price. American goods were not being sold. This resulted in cut-backs in production which meant that there was less employment available so people lost their jobs. Profits being made lessened and so did the value of shares.
A lack of regulation in the stock market was also a cause of the great depression. Most shares that were changing hands were done so through borrowed money. Buying shares on the margin this way worked very well when share prices were rising. When prices began to slow down or cheapened in value however, trouble arose in the stock market. Seventy five per cent of share prices could be borrowed. This caused a lot of speculation which helped to increase share valuse further. The Federal Reserve...
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