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The Great Depression was the worst economic slump ever in US history and one whichspread to virtually all of the industrialized world The depression began in late 1929 andMany factors played a role in bringing about the depression however the maincause for the Great Depression was the combination of the greatly unequal distribution ofwealth throughout the 1920s and the extensive stockmarket speculation that took placeduring the latter part that same decade The lack of distribution of wealth in the 1920sexisted on many levels Money was distributed in equally between the rich and themiddle-class between industry and agriculture within the United States and between theUS and Europe This imbalance of wealth created an unstable economy The stockmarket was kept artificially high but eventually lead to large market crashes Thesemarket crashes combined with the lack of distribution of wealth caused the AmericanThe roaring twenties was an era when our country prospered tremendously Thenations total realized income rose from 743 billion in 1923 to 89 billion in 1929However the rewards of the Coolidge Prosperity of the 1920s were not shared evenlyamong all Americans In 1929 the top 01 of Americans controlled 34 of all savingswhile 80 of Americans had no savings at all Automotive industry mogul Henry Ford is one example of the unequal distributionof wealth between the rich and the middle-class Henry Ford reported a personal incomeof 14 million in the same year that the average persons income was 750 By present daystandards Mr Ford would be earning over 345 million a year This lack of distribution of income between the rich and the middle class grewthroughout the 1920s A major reason for this large and growing gap between the richand the working-class people was the increased manufacturing output throughout the1920s From 1923-1929 the average output per worker increased 32 During that sameperiod of time average wages for manufacturing jobs increased only 8 As productioncosts fell quickly wages rose slowly and prices remained constant the bulk benefit
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