Depression Of The 1930s
Beginning of paper
The economic depression that beset the United States and other countries in
the 1930s was unique in its magnitude and its consequences. At the depth of
the depression, in 1933, one American worker in every four was out of a job.
In other countries unemployment ranged between 15 percent and 25 perce ....
Middle of paper
.... over.
The spectacular rise in prices on the STOCK MARKET from 1924 to 1929 bore
little relation to actual economic conditions. In fact, the boom in the
stock market and in real estate, along with the expansion in credit
(created, in part, by low-paid workers buying on credit) and high profits
for a few industries, concealed basic problems. Thus the U. S. stock market
crash that occurred in October 1929, with huge losses, was not the
fundamental cause of the Great Depression, although the cras ....
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Word count: 1252
Page count: 5 (approximately 250 words per page)
