What factors contributed to the onset of the Great Depression? 🔊
Several factors contributed to the onset of the Great Depression, with the 1929 stock market crash being one of the most significant. The decade of the 1920s saw an economic bubble characterized by rampant speculation and inadequate regulatory measures, culminating in the crash that triggered widespread bank failures and bankruptcies. Additionally, the Dust Bowl devastated agricultural production, leaving many farmers and families in dire straits. Poor monetary policies, international trade declines, and an overall loss of confidence in the economy compounded these issues, leading to massive unemployment and a prolonged economic downturn.
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