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Essay / Research Paper Abstract
This 4 page paper provides an overview of this period of American history. Causes are explored. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: RT13_SA711dep.rtf
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Unformatted sample text from the term paper:
never dreaming that a stock market fiasco in 1929 would hurt things. Today, people are more careful. They weigh options when investing and take fewer risks. Lessons were learned in
1929 and the Depression also created a more frugal social milieu. The people learned lessons but of course, a crash did occur again during 1987, and the stock market continues
to have its ups and downs. In any event, there are economists who do not see the cause of the Great Depression as solely attributable to the crash. In fact,
many suggest that the crash is not really a cause at all; some suggest that when the Federal Reserve began to raise interest rates early during 1929, that is
when things began to go awry ("Americas Great Depression," 2007). Economists should have taken notice and issued warnings early in 1929. Yet, while the crash was not the cause of
the depression, it is true that the crash had some effect. It caused people to increase their liquidity and actually hoard money ("Americas Great Depression," 2007). An example of this
is seen in the film Its a Wonderful Life. Everyone wanted their money at once and the bank did not have it. Panic causes people to sell off more stock
than they ordinarily would have. It also seems to be true that "the negative effect of stock market variability is more than strong enough to account for the entire decline
in real consumer spending on durables that occurred in late 1929 and 1930" (Romer, 1990 as qtd. in "Americas Great Depression," 2007). The crash, and its consequences, had a lasting
effect. Bernstein (1989) for example examines the depression and admits that in order to comprehend why it happened when it did, one would have to delve into a variety of
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