Causes of the Great Crash
In 1929 there had been a bull market for some time, and it seemed like it would never stop. However, such prosperity would not last forever. In October of that year, the market came to an abrupt halt. It was not a simple matter however. There was no single reason why the market finally crashed as it did but rather there were many factors that had lead to this devastating event.The first reason that had helped contribute to the stock market crash of 1929 was the huge misdistribution of wealth. The rich 5% elite was controlling the economy as well as about 25% of the nations income. Low wages, horrible working conditions and tremendous hours remained the same, as labor unions were completely ineffective during this time period. Because wages and prices weren’t changing, as was the output per worker was, the rich were only getting richer. Since they were the big spenders, they basically decided which direction the economy was going. The second reason was the fact that the unstable United States economy was part of an unstable world economy. As America prospered in the 1920’s, Europe struggled to rebuild itself from the devastation of the war. America throughout the 1920’s, with its booming e
. . .
Some common words found in the essay are:
America Peru, Causes Crash, stock market, crash 1929, money investors, foreign allies, bull market, companies form, price stock, stock prices, stocks bonds, fear greed,
Approximate Word count = 982
Approximate Pages = 4 (250 words per page double spaced)
|
 |
