The Great Depression

Prosperity and wealth overwhelmed the people of The United States during the middle to late 1920s. This wealth and prosperity, however, soon ended, and the economy submerged into a depression. This depression depicts the worst economical disaster in United States history. Many people suffered greatly due to the lack of necessities they once had. There were few jobs available, and people lost homes, money, and many of their belongings. This catastrophe occurred in the early 1930s, due to uneven distribution of income, problems in the farming industry, and the stock market crash of October 1929. The Great Depression in the United States also caused a major worldwide depression, as virtually ...

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not to be able to buy goods as fast as they were produced. Businesses produced high gains in the 1920 s. Workers received very little of the high profits accumulated by business. Therefore, wealthier people got most of the profit, causing some workers to lose their money and jobs. People began to purchase more than they could afford. They did this because the method of credit, buy now pay later was introduced. This method forced many Americans into debt. This is how the subject of uneven distribution of income impacted the United States into the fall of the depression.
“The farming industry symbolizes the area of the economy that got hit the hardest by the depression” Pg.7 Rothbard, M. N. (2000). The problems began in the 1920 s, when times were prosperous for businesses, not farmers. Farmers, representing onefourth of the economy, could not sell their products for a profit. They couldn‘t sell for profits due to a 40 percent decrease in agricultural goods value on the market. The ...

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PAPER DETAILS
Added: 3/6/2011 03:43:37 PM
Submitted By: N1SM0
Category: World History
Words: 1150
Pages: 5

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