Question

Enumerate the events which led to the great economic depression of 1930.

Answer 1

The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in 1930 after the passage of the United States' Smoot-Hawley Tariff bill (June 17), and lasted until the late 1930s or middle 1940s.It was the longest, most widespread, and deepest depression of the 20th century.

There were multiple causes for the first downturn in 1929. These include the structural weaknesses and specific events that turned it into a major depression and the manner in which the downturn spread from country to country. In relation to the 1929 downturn, historians emphasize structural factors like major bank failures and the stock market crash. In contrast, monetarist economists (such as Barry Eichengreen, Milton Friedman and Peter Temin) point to monetary factors such as actions by the US Federal Reserve that contracted the money supply, as well as Britain's decision to return to the gold standard at pre–World War I parities

Answer 2

Explanation:

Banking panics and bank failures in the U.S. and elsewhere in 1930-33.

A monumental decline in spending that generated a decline in production.

Decision-making by the U.S. Federal Reserve that caused declines in the money supply.

Excessive stock-market speculation in the U.S. that resulted in the Great Crash of 1929.

Maintenance of the international gold standard

The Smoot-Hawley Tariff Act and other protectionist trade policies.

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