The Great Depression and "Angela's Ashes"
Sintesi in lingua inglese degli eventi che portarono alla crisi economica americana del '29 e alla grande depressione e sunto del libro di Frank McCourt "Le ceneri di Angela" (2 pagine formato pdf)
The great Depression of the 1930 in the USA
The great Depression of the 1930 was the worst economic slump in America history. They were usually preceded by speculation and inflation.
Between 1924 and 1930 both the USA and most parts of Europe enjoyed favourable economic conditions; but this prosperity depended on American loans and American markets, which almost vanished in the late 1929.
The European economy, still recovering from the trauma of the war and its aftermath, was too weak to face this crisis.
The causes of the great depression
Many factor brought the Great depression; however the main cause was the combination of the unequal distribution of wealth, and the extensive stock market speculation that took place during the latter part of the same decade.
Money was distributed unequally between the rich and the middle-class. The imbalance of wealth created an unstable economy.
A major reason for this large and growing gap between the rich and the working class people was the increased manufacturing output throughout this period.
An oversupply of goods and credit sales
The total demand must equal total supply for an economy to function properly. In the 1920 there was too much bread, too much wheat and corn, meat and oil and almost every other commodity required by man for his subsistence and material happiness. The USA economy also relied upon luxury spending and investment from the rich during the 1920.
The great Depression of the 1930 was the worst economic slump in America history. They were usually preceded by speculation and inflation.
Between 1924 and 1930 both the USA and most parts of Europe enjoyed favourable economic conditions; but this prosperity depended on American loans and American markets, which almost vanished in the late 1929.
The European economy, still recovering from the trauma of the war and its aftermath, was too weak to face this crisis.
The causes of the great depression
Many factor brought the Great depression; however the main cause was the combination of the unequal distribution of wealth, and the extensive stock market speculation that took place during the latter part of the same decade.
Money was distributed unequally between the rich and the middle-class. The imbalance of wealth created an unstable economy.
A major reason for this large and growing gap between the rich and the working class people was the increased manufacturing output throughout this period.
An oversupply of goods and credit sales
The total demand must equal total supply for an economy to function properly. In the 1920 there was too much bread, too much wheat and corn, meat and oil and almost every other commodity required by man for his subsistence and material happiness. The USA economy also relied upon luxury spending and investment from the rich during the 1920.