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Great Depression
Start of Term Paper
The was the worst economic slump ever in U.S. 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 depress .... Middle of Term Paper
... 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 nation's total realized income rose from $74.3 billion in 1923 to $89 billion in 1929. However, the rewards of the "Coolidge Prosperity" of the 1920's were not shared evenly among all Americans. In 1929 the top 0.1% 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 ... |
| Number of Words: 1624 |
Approximate Pages: 6 |
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