The Stock Market crash of 1929 has been looked at as the greatest symbol of depression is our countries history. Although the Stock Market crashing had a huge effect on the beginning of the Great Depression, there are still factors to consider when looking for a source to blame. It's hard to put responsibility on the stock market for something so huge and disheartening. The Great Depression is seen as a slippery road downward, not a sudden jolt into hopelessness.
The Stock Market in the 1920's had consistently seen prices climb over the last few years. By the fall of 1929 the prices of stock were severely overpriced and unaffordable. When stockholders saw the severity in the prices they all panicked and began to sell all the stock that they owned. This is what caused the Stock Market to crash. Other causes for the Great Depression are there just not obvious.
The Tax system in the United States in this period was struggling. Income Tax on the middle class was way too......
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Approximate Word Count: 680
Approximate Pages: 3 (260 words per double-spaced page) |