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Depression
The Depression 1921-1940
The Great Depression known as ‘Black Thursday’ began in October1929 and lasted for about a decade. It was the worst economic crash ever in U.S. history, and one, which spread to virtually the entire industrialized world.
The depression started when large numbers of people brought shares in companies. By buying shares low and selling them at a higher price, investors could make a lot of money quickly. Unfortunately, as the shares dropped, many people wanted to sell before the share price fell below what they had paid for the shares.
The main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's, and the extensive stock market speculation that took place during the last part of that same decade. Australia entered the depr...
The Depression 1921-1940
The Great Depression known as ‘Black Thursday’ began in October1929 and lasted for about a decade. It was the worst economic crash ever in U.S. history, and one, which spread to virtually the entire industrialized world.
The depression started when large numbers of people brought shares in companies. By buying shares low and selling them at a higher price, investors could make a lot of money quickly. Unfortunately, as the shares dropped, many people wanted to sell before the share price fell below what they had paid for the shares.
The main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's, and the extensive stock market speculation that took place during the last part of that same decade. Australia entered the depr...
Posted by: Kelly G Hess
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