Great Depression Causes Effects Essay

Great Depression Causes Effects Essay-26
“The top one percent of the wealthy Americans owned over a third of all American assets” (The Great Depression).

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The farm depression of the 1920’s was a contributing economic factor to the Great Depression.

Farmers were producing a surplus and well over what American consumers were purchasing.

This caused many other economies to become reliant on the U. European countries couldn’t afford to repay their debts.

Tensions were further exacerbated when the Hawley-Smoot Tariff Act was passed in 1930.

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Too few workers could afford to buy what the factories were producing.

Also, the surplus products could not be sold to foreign countries because of the high tariffs.

World War I had just ended, and Americans were ready to take a break from the anxiety of world politics.

During this time, known as the Roaring Twenties, Americans were focused on making money and having fun.

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