To what extent was the Wall Street Crash a cause of the Great Depression of 1929? Support your argument with specific examples.
The wall street crash was one of four major causes of the Great Depression. The other three being agricultural failures, industrial failures, and foreign tariffs.
Stock Market Crash
-people loose money
-can't pay off debts
-no spending
Agricultural Failures
-farmers buy many farm implements
-demand for farming suddenly drops after WW1
-don't make money and can't pay off debts
Industrial Failures
-demand goes down
-industries make less money
-people get laid off and wages don't increase
-no spending
Foreign Tariffs
-prevent American businesses from exporting
-people are laid off because companies aren't making money
-economy becomes stagnant ie, no spending
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment