scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,629
The Great Depression was the worst economic slump ever in US history and one which spread to virtually all of the industrialized world The depression began in late 1929 and lasted for about a decade Many factors played a role in bringing about the depression however the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920s and the extensive stockmarket speculation that took place during the latter part that same decade The lack of distribution of wealth in the 1920s existed on many levels Money was distributed in equally between the rich and the middle-class between industry and agriculture within the United States and between the US and Europe This imbalance of wealth created an unstable economy The stock market was kept artificially high but eventually lead to large market crashes These market crashes combined with the lack of distribution of wealth caused the American economy to capsize The roaring twenties was an era when our country prospered tremendously The nations total realized income rose from 743 billion in 1923 to 89 billion in 1929 However the rewards of the Coolidge Prosperity of the 1920s were not shared evenly among all Americans In 1929 the top 01 of Americans controlled 34 of all savings while 80 of Americans had no savings at all Automotive industry mogul Henry Ford is one example of the unequal distribution of wealth between the rich and the middle-class Henry Ford reported a personal income of 14 million in the same year that the average persons income was 750 By present day standards Mr Ford would be earning over 345 million a year This lack of distribution of income between the rich and the middle class grew throughout the 1920s A major reason for this large and growing gap between the rich and the working-class people was the increased manufacturing output throughout the 1920s From 1923-1929 the
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA