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The Key Causes Of The Great Depression

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The Great Depression The great depression is one of the most severe international economic crises that preside after the Great War and before World War 2. The key factors that were considered to be the cause of the depression were overproduction and underconsumption.
The boom and bust
The rapid economic expansion or the “Jazz Age” brought great tides and social changes in the U.S. However, the Roaring Twenties ended with hints of depressions and leaded to the stock market crash and the Great Depression. There are many reasons for the booming economy that clearly outlined by historians and economists. Growth in automobile industry, consumer exuberance, technology advancement, labour productivity, scientific management and soaring mass production.

Reasons for booming Economy:

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The end of the surge of the booming economy Hoover and the Federal Government
Much of the 31st presidents sullied actions and wavering promises were in much depth in the U.S textbooks. Secretary of the Treasury Andrew Mellon, though famous for his taxes policies in maintaining government spending, advised Hoover one of the most famous lines - "liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate... it will purge the rottenness out of the system.” His believe in adjusting values were still criticized by many. In considering the crisis, Hoover did made an effort to project his own optimism. Public projects were increased. Hoover however was reluctant to relieve human misfortunes with the federal resources. It is the voluntary organizations and the local government’s job to provide aid and not Washington. The vast army of the unemployed could be aided by the charity organizations due to their funds being quickly dried up. Hoover initiated several programs to relieve the

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