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Word Count: 3,139
Between the late 1890s after the panic of 1893 and the late 1920s the American people led good lives in which most prospered In the 1920s the problems that led to the Great Depression were dispersed over a time of maldistribution of wealth and what was called a bull market A bull market is a stock market that is based on speculation Speculation was a system of borrowing money to buy stocks and selling for a profit Speculation only worked if the stock market was on the rise though To this day people who have not been properly educated about the Great Depression believe that President Hoover was the cause The idea that President Herbert Hoover caused the Depression could have arisen from the fact that he was the President at the time the Depression began However the people who do not believe that President Hoover was the cause deem the crash of the stock market in 1929 as the real culprit The truth behind the stock market crash is that it was the event that caused the already unstable economy to go over the limit If the president and the stock market crash did not cause the Great Depression then what did According to research done on the Great Depression the causes rest on of different factors but can be put under two main categories The responsibility for the Great Depression falls not only on the Stock Market Crash but also on the maldistribution of wealth an unstable economy and the wild stock market practices of the 1920s The largest reason for the growing gap between the rich and the working-class people was the sudden increase in manufacturing during the 1920s The people of the working class were significantly increasing their output but their wages only increased slightly For example the average worker out put from 1923-1929 increased about 32 but the average income of the worker only increased about 8 Gusmorino Main Causes
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