reasons for the great depression
- Created by: hbousher
- Created on: 07-01-21 14:07
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- reasons why there was a depression after WW1
- farming
- urged to produce more wheat and given subsidies to do so
- some farmers took out loans to buy farmland and machinery
- mechanisation meant that some workers werent needed and many workers became unemployed
- during the war demand for wheat wasa high, after the war farmers produced too much wheat;prices fell
- some farmers produced more wheat so that they could pay off their loans
- many farmers were fired or went bankrupt and so unemployment went up
- industry
- many striked in 1919 and 1920
- strikes failed to get better working conditions and sometimes made businesses shut down
- many older industries were in decline
- government reaction
- laissez-faire
- government did not try to stop the depression
- isolationist tariffs but on other countries led to import tax on american goods and us exports fell
- tariffs pushed americans to buy more US goods
- the government soon felt that the depression would right itself
- farming
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