- 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.