Explain two cause of the great economic depression in 1929
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1. Stock Market Crash of 1929 - Many believe erroneously that the stock market crash that occurred on Black Tuesday, October 29, 1929 is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great Depression.
2. The Great Depression was a global economic crisis that may have been triggered by political decisions including war reparations post-World War I, protectionism such as the imposition of congressional tariffs on European goods or by speculation that cause
2. The Great Depression was a global economic crisis that may have been triggered by political decisions including war reparations post-World War I, protectionism such as the imposition of congressional tariffs on European goods or by speculation that cause
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The world economy became fragile due to the first world war.
Agricultural prices fell significantly and income declined.
Many countries finance loans especially US. U S Overseas lenders panic at the sight of financial crisis.
Thousands of banks turn bankerupt and were forced to close.
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