What Was the Exact Cause Of The Great Depression?
The United States Great Depression leads many people to believe different stories about what actually caused it. The Stock Market Crash in October of 1929 is often referred to as the beginning of the Great Depression, but did it actually cause it? The answer is that it was the spark that lit the flame of the Great Depression.
The Great depression was a financial decline that started in 1929 and lasted through most of the 1930s. Its pinpoint was in North America and Europe, but plagued countries around the world (especially developed countries). Unemployment and homelessness sky rocketed and construction practically stopped in many countries. Industrial production declined by 50%, international trade plummeted 30%, and investment plunged 98%. The Great Depression was more severe and lengthy in the United States than in other developed countries. The unemployment rate rose higher and remained higher longer than in any other western......
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