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Essays on the Great Depression (2000) Bernstein, Michael A. The Great Depression: Delayed Recovery and Economic Change in America, 1929–1939 (1989) focus on low-growth and high-growth industries; Bordo, Michael D., Claudia Goldin, and Eugene N. White, eds. The Defining Moment: The Great Depression and the American Economy in the Twentieth ...
Thus the unequal distribution of wealth throughout the 1920s caused the Great Depression. [125] [126] According to this view, the root cause of the Great Depression was a global over-investment in heavy industry capacity compared to wages and earnings from independent businesses, such as farms.
Examining the causes of the Great Depression raises multiple issues: what factors set off the first downturn in 1929; what structural weaknesses and specific events turned it into a major depression; how the downturn spread from country to country; and why the economic recovery was so prolonged.
The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
The persistent dry weather caused crops to fail, leaving the plowed fields exposed to wind erosion. The Great Plains' fine soil eroded easily and was carried east by strong continental winds. On November 11, 1933, a very strong dust storm stripped topsoil from desiccated South Dakota farmlands in one of a series of severe dust storms that year.
During the Depression, a piece of cardboard or a new rubber sole may have extended the wear of a pricey pair, and clothes were certainly mended and patched long before they were ever thrown out.
From the depression of 1920–1921 until the Great Depression, an era dubbed the Roaring Twenties, the economy was generally expanding. Industrial production declined in 1923–24, but on the whole this was a mild recession. [26] [34] [35] [36] 1926–1927 recession October 1926 – November 1927 1 year 1 month
The Great Crash, 1929 is a book written by John Kenneth Galbraith and published in 1955. It is an economic history of the lead-up to the Wall Street Crash of 1929 .