Great Depression Causes Effects Essay

Great Depression Causes Effects Essay-26
The farm depression of the 1920’s was a contributing economic factor to the Great Depression.

The farm depression of the 1920’s was a contributing economic factor to the Great Depression.

One of the major infamous events that led to the Great Depression was the Stock Market Crash of 1929.

Without the cash to buy of those neat new gadgets like cars and radios, consumers relied on another new invention: credit.

World War I had just ended, and Americans were ready to take a break from the anxiety of world politics.

During this time, known as the Roaring Twenties, Americans were focused on making money and having fun.

The Great Depression resulted from a combination of economical and political causes that had been building up since months prior to the crash.

After World War I ended, American farmers had a difficult time making profits.Americans were saving less and spending money they didn’t have.They were even borrowing money to invest in the stock market.This caused many other economies to become reliant on the U. European countries couldn’t afford to repay their debts.Tensions were further exacerbated when the Hawley-Smoot Tariff Act was passed in 1930.Disclaimer: This work has been submitted by a student.This is not an example of the work produced by our Essay Writing Service.Based on the ideals of protectionism, this act raised import duties to protect American farmers and businessmen, resulting in world trade decline by 66% from 1929 to 1934 and international economic strain (5 Possible Causes of the Great Depression).The 1920’s were a time of great economic and technological growth in America.However, the United States was not the only affected country. Many attribute Black Tuesday, when the New York Stock Exchange crashed in 1929, as the major cause, but one can not overlook the fact that there was not just one single factor causing this economic downfall.Most historians and economists agree that the stock market crash was just one of many contributors to the slump.

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