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Depression Of The 1930s
Beginning of paper
The economic depression that beset the United States and other countries in
the 1930s was unique in its magnitude and its consequences. At the depth of
the depression, in 1933, one American worker in every four was out of a job.
In other countries unemployment ranged between 15 percent and 25 percent of
the labor force. The great industr .... Middle of paper
.... credit
(created, in part, by low-paid workers buying on credit) and high profits
for a few industries, concealed basic problems. Thus the U. S. stock market
crash that occurred in October 1929, with huge losses, was not the
fundamental cause of the Great Depression, although the crash sparked, and
certainly marked the beginning of, the most traumatic economic period of
modern times.
By 1930, the slump was apparent, but few people expected it t ....
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Number of words: 1252
Number of pages: 5 (approx. 250 words per double-spaced page)
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