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America's Great Depression: 1920S
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The Great Depression followed almost a decade of spectacular economic growth. Between 1921 and 1929, output per worker grew about 5.9 percent per year, roughly double the average in the twentieth century. Unemployment and inflation were both very low throughout this period as well. One troublesome characteristic of the 1920s... was that income distribution became significantly less equal. Also, a boom in housing construction, associated in part with an automobile-induced rush to the suburbs, collapsed in the late 1920s. And automakers themselves worried throughout the late 1920s that they had saturated their market fighting for market share; auto sales began to slide in the spring of 1929.
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Great Depression is recognized as one of the most severe economic downfall of US ever happened in the history of America. This whole period of economic downfall lasted for about a decade as it begins during the late months of 1929. Though there are many factors that are held responsible for the Great depression in America, but the principle cause was the amalgamation of the immensely unequal distribution of wealth throughout the period of 1920’s. Furthermore the widespread stock market speculation that took place in the following years is ... one of the main causes. Wealth was distributed in a very much unorganized an uncalculated way to all over the nation, including the industrialist, middle class, the rich as well as the agriculturists with in the USA. Moreover wealth was desperately distributed between US and Europe.
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For Great Depression sites in NetTrekker follow this path: Either enter a search term in the box or click on the NetTrekker icon to the left. In the Social Studies Category, click on U.S. History. Then click on the link for The Twenties and the Great Depression (1920-1940)
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1920S