Great Deppression (aug 1, 1929 – mar 1, 1933)
Description:
Description: The Great depression was a devasting worldwide economic depression, it began in the united states and carried across many other countries. It lasted for many years.
Cause 1: The main major cause of the great depression was the stock market crash which sent many people into a panic and wiped out millions of investors.
Cause 2: Another major cause of the Great Depression was the gold standard at the time. There was a big amount of declining output and deflation. People were then buying less imported goods while American exports were quite cheap, these imbalances helped with the led up to the Great Depression.
Effect 1: The Great Depression effected the amount of consumer spending and investments which caused industrial output and employment to fail and companies to overall fail and not work anymore.
Effect 2: A huge effect that the Great Depression had was the fact that Hitler used the devasting events to get into people’s head so he could be in power. The Nazi party grew and grew as The Great Depression was getting bigger, Hitler changed tactics and decided to try and overthrow by getting elected by the people by saying things that the people would want, and he eventually succeeded.
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