Causes of The Great Depression

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  • Causes of The Great Depression
    • The USA was divided – 5 per cent of the people owned 33 per cent of the country’s wealth.
    • Old industries and farming had suffered during the 1920s.
    • The Republican Government believed in a laissez-faire policy.
      • Also called individualism. the doctrine of unrestricted freedom incommerce, esp for private interests
    • Fewer countries were buying goods from the USA because they were highly taxed.
    • Too many goods were being produced and nobody wanted to buy them.
    • People took a chance on the stock market and poor people borrowed too much money to do so.

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