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The Great De tweetion: Lessons Learned, Lessons Forgotten. What caused the long depression? What could have caused the well-disposed 1920s to be followed with the welt economic disaster in US history? hither are the main causes of the abundant depression. It all starts back at the beginning. In the 20s the prices of stocks were skyrocketing. People had more than than bullion and life was good. solely it was all an illusion. As prices locomote so did business cost. This ineluctably steer to a bloom where business were having a sullen time staying both competitory and profitable. All this sparked the beginning of mordant Tuesday October 29, 1929 the day the stock grocery dossed. After the crash Americans started spending less(prenominal) and started saving more. This forget to less production and less jobs, causing unemployment to go mettlesome and higher. Attempting to recover the US governing passed a series of laws that send away up b opposite the economy. whiz example was the Smoot Hawley Tariff, which set a high tax on foreign goods. All this did was press down trading mingled with the US and other countries come along hurting the US economy.

other major influence was the capacious entrust failures happening crossways the country. As banks disappeared so did the money that was deposited in them. There was no such thing as verify by the regimen at that time. In other spoken language nondescript citizens where losing their life savings left(a) and right. The average military reapfulness was unable to pay sour his debts, so they simply borrowed more money causing more stress on the banks. This run to threat. Panic steamed from the crash and forced people to retarding force their money out of banks. The panic only grew as more banks fell.If you want to get a full essay, order it on our website: Orderessay

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