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Essay

Economic Depression

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Issue:

Social Issues

 

Written by:

Elizabeth R

 

Date added:

July 17, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

24 / 6485

 

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2145 times

 

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Essay content:

The 1920's saw a stock market boom in the U.S. as the result of general optimism: businessmen and economists believed that the newly-born Federal Reserve would stabilize the economy, and that the pace of technological progress guaranteed rapidly rising living standards and expanding markets. The U.S...
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The U.S. Federal Reserve's attempts in 1928 and 1929 to raise interest rates to discourage stock speculation brought on an initial recession. Caught by surprise, firms cut back their own plans for further purchase of producer durable goods; firms making producer durables cut back production; out-of-work consumers and those who feared they might soon be out of work cut back purchases of consumer durables, and firms making consumer durables faced falling demand as well...
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