Reasons For The Wall Street Crash

619 words, 3 pages

Intro Sample...

Even during the boom the distribution of wealth was completely uneven one third of the wealth in the country was owned by only 5% of the population and 70% people were living in poverty. This also contributed to overproduction as only a small amount of people were able to afford new products. This inequality in money was also created by government policies as the government introduced laissez faire which meant that they had very little involvement in businesses so many people weren’t paid fairly.

In 1929 there was a lot of speculation on the share prices in Wall Street and as many middle class people were investors in business it lead to panic selling in Wall Street and on October 24th panic selling began and stock prices continued to fall for a full month. There were many causes for the wall street crash the main one being overproduction they was too much being continuously produce and not even demand and from this the whole economy began to fall as businesses weren’t making large profit they had to fire a lot of employees which meant that even more people couldn’t afford the products this meant that businesses had to try and sell their products abroad but due to tariffs on American goods they weren’t able to do so effectively. Government policies also had a lot do with the crash as their lack of involvement with businesses meant that many people were still poor. View More »

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