Blind Fait in the Free Market

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American History


Written by:

Caroline T


Date added:

March 5, 2016








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2 / 404


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On Tuesday, October 29, 1929 millions of people who had watched their dollars grow, now found themselves to be poor. The nation suffered terribly. The gross domestic product (measure of the nation's total output) fell by almost half from 1929 to 1933. (p. 100 "The Making of Economic Society) As a result of all this, the unemployment numbers rose dramatically...
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In 1929, the numbers reached 1.5 million. And by 1933, the number had risen eightfold. One person out of every four in the work force found themselves without a job. Their blindness lead America to continue to believe that as long as they keep working, or investing their money in the stock market, they won't become poor...
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