Great Depression Causes Effects Essay

Great Depression Causes Effects Essay-64
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.

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Americans were saving less and spending money they didn’t have.

They were even borrowing money to invest in the stock market.

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.

The Great Depression: Political and Economic Causes in the Americas The Great Depression was a big economic slump in the 1930’s.

Many Americans lost their jobs, their savings, and their homes.Hard times had hit other major parts of the economy, as well, including energy, coal mining, railroads, shipbuilding, and textiles.Businesses had too much inventory and too few buyers.In reality, it was more of a sign that things had already gone wrong.To understand the Depression’s causes, one must go further back.Factories built to make weapons and ammunition for the war were reestablished to churn out consumer products.But, overproduction in industry resulted in an economic cause of the Great Depression.Prices of agricultural products fell about forty percent by 1921 and remained low for the rest of the decade (Causes of the Great Depression).Some farmers were in so much deficit they couldn’t even pay off the mortgage on their farm and had to rent the land or even leave.The farm depression of the 1920’s was a contributing economic factor to the Great Depression.Farmers were producing a surplus and well over what American consumers were purchasing.

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