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Great Depression - Essay

Great Depression

The Coming Of The Depression

I. Stock market rose 2/1929 and had a steady ascent through 9/1929
A. Trading grew more intense
B. Offered absurdly easy credit which caused problems

II. The Great Crash occurred 10/29/1929
A. Gains were completely wiped out
B. The Great Crash was not a cause for the depression, the date is just a marker

III. There were several causes for the Great Depression.
A. Poor Economic Diversification
1. 11 billion to 9 billion in 1929
2. Automobiles Industries fell 1/3

B. Misdistribution
1. Resulted in a weakness in consumer demand
2. ½ of Americans lived unsubstantially

C. Credit Structure
1. Farmers were deeply ...

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market crash of 1929 did not cause the Depression but it did help trigger the chain of events.

A. The most serious problem was the collapse of banking system.
1. Over 9,000 closed and went bankrupt
2. Raised interest rates

B. The GNP plunged drastically
1. $ 104 billion in 1929 to 76.4 billion in 1932
2. 25 % decline
3. 20% to 15% unemployed

Debating the Past: Causes of the Great Depression
Pg 62-63

I Economists and Historians viewpoints on the causes of the Great Depression.

A. Corporate Leaders: Lack of “Business Confidence”

* Feared government regulations and high taxes
* The Hoover Administration blamed international economic forces and sought

B Milton Friedman and Anna Schwartz “The Great Contraction”

* Drastic contraction of Currency
* These numbers made a normal recession into The Great Depression

C. Economist Peter Temin “Spending” Interpretation

* Consumer Spending proceed the decline in the money ...

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PAPER DETAILS

Added: 4/26/2011 11:39:57 PM
Submitted By: roman6214
Category: Economics
Type: Free Paper
Words: 342
Pages: 2

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