Constrain to simple back and forward steps. Copy code to clipboard. Add a personal note: Houston, we have a problem! Send the link below via email or IM Copy. Present to your audience Start remote presentation. Do you really want to delete this prezi? Neither you, nor the coeditors you shared it with will be able to recover it again. Comments 0 Please log in to add your comment. Creating downloadable prezi, be patient. Delete comment or cancel. People began to fear that the boom was going to end, the stock market crashed, the economy collapsed and the United States entered a long depression.
The Great Depression of the thirties remains the most important economic event in American history. The stock market crash in October is believed to be the immediate cause of the Great Depression, but there were many other factors and long-term causes that developed in the years prior to the depression. Many US citizens were never participating in the boom from the start. The coal mining industry had expanded greatly, creating many jobs, but with the introduction of oil and gas, the production of coal was decreased along with the amount of jobs.
The cotton industry experienced similar unemployment problems. In the agricultural industry, an increase in production was met with a decrease in demand, so farmers also became unemployed. The American farms and factories produced large amounts of goods and products during the prosperity before the Depression.
The factories and farms still continued to produce at the same rate, but demand for their products was decreasing. The American Federation of Labor fell from 5.
Harding was a Republican as well as a laissez-faire capitalist who advocated policies which reduced taxes and regulation, allowed monopolies to form, and allowed the inequality of wealth and income to reach record levels Tanner, 3.
Between May and September , the average prices of stocks rose 40 percent. Stock prices rose so quickly that at the end of the decade, some people became rich overnight by buying and selling stocks Matthews, 3.
Between and the number of shareowners rose from 4 million to 20 million Temin, With artificially low interest rates and a booming economy, people and companies invested in over-priced stocks. During and , the prices of many stocks went up faster than the value of the companies the stocks represented.
Many people bought expensive luxury items using money they did not have. Installment buying allowed people to make a monthly, weekly, or yearly payment on an item that they wanted or needed.
The causes of the Great Depression in the early 20th century have been extensively discussed by economists and remain a matter of active debate. They are part of the larger debate about economic crises.
long term causes of the great depression study guide by Isaac_Korus includes 7 questions covering vocabulary, terms and more. Quizlet flashcards, activities and games help you improve your grades.
(see related question) 1. Stock Market Crash of Many believe erroneously that the stock market crash that occurred on Black Tuesday, October 29, is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great Depression. 5 Causes of The Great Depression What caused the Great Depression, the worst economic depression in US history? 1. According to this author, the causes of The Great Depression a. are agreed upon by all historical scholars. b. are taught only in upper-level history courses in universities. Long-term underlying causes sent the .
The stock market crash in October is believed to be the immediate cause of the Great Depression, but there were many other factors and long-term causes that developed in the years prior to the depression. Causes and Consequences of the Great Depression America had gone through hard times before: a bank panic and depression in the early s, and other economic hard times in the late s, the mids, and the early and mids.