The Great Depression Free Essay, Term Paper and Book Report
In America during the 1920’s the economy was booming, after World War I many European countries were in debt to America. America was gathering many contracts and the hope for the future was bright, with global expansion highly anticipated; with contributions to the economy such as the light bulb and Ford expanding into Germany, an opportunity for cheap assets had arisen meaning people had more money. Eventually supply reached saturation and there was a rush of people willing to sell and no one to buy. On October the 29th, 1929 the stock market in America officially crashed.
In Liverpool, Britain there were many exports and imports such as coal and cotton. The British government would not negotiate the over-priced exports, so no one was buying the products they were trying to sell, because of this the price of imports dramatically increased and because the British pound was low businesses and people were unable to buy certain things. By 1921 unemployment had risen to over one million and stayed above that amount until 1940. In 1932 unemployment had reached over 3million. Kane, a hi......
Word Count: 903
Page Count: 3.6 (250 words a page / double spaced)
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