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Causes Of The Great Depression
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The main cause of the Great Depression was a lack of understanding of economic systems. The Great Depression began in 1929, during Republican President Hoover’s watch. Many try to blame the worsening of the Depression on Hoover, for his deviation from Republican economic ideology. However, almost all of Hoover's government action occurred durin ....
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....all Street Crash and continued through the early 1930s. After share prices plunged on Wall Street, US banks were forced to call in their foreign and domestic loans. However most people were already suffering from the various economic problems and few were able to pay the banks.
Meanwhile, those who had money saved in banks began to withdraw it. Wi.... |
| Word count: 393 |
Page count: 2 |
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