Great Depression (29 окт 1929 г. – 1 янв 1939 г.)

Описание:

Productivity, employment = low
EU and US
Stock Market Crash triggered events that caused:
- lack of diversity in Am econ
-maldistrib of wealth
- credit structure
- custoners default on loanes = banks fail
- banks invest in stocks, stock market crash, banks suffer
- risky spec by banks : Feb 1928 stock prices up so speculation up = artificial increase -> when 1929 stock down by a lot, stocks worthless market depressed for 4 yrs
- decline in exports
- high Am tariffs, EU can't buy

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