The Great Depression

The Great Depression was the worst economic slump ever in the history of the United States. The depression began in late 1929 and lasted for about a decade. Many factors played a role in bringing about the depression. The depression seemed to be brought about by the Stock Market Crash of 1929, however this was just a catalyst in setting off the depression. There were a number of other factors that had been around well before the stock market started failing. These factors include overproduction, poverty, an uneven distribution of wealth, weak banking sector and the federal governments approach to the American economy.

In the 1920’s America’s economy changed and products began to be mass-produced. After a while the supply of goods exceed the demand for them. The market became saturated with goods consumers could no longer afford. Those who could afford the goods had already bought what they wanted. Instead of the companies decreasing the price of the products they simply laid off...