Essays on the great depression in australia
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The Great Depression in Australia
Theme: "Australia during the great depression" - Write Essay.
The stock market crash marked the beginning of a decade of high unemployment , poverty, low profits, deflation , plunging farm incomes, and lost opportunities for economic growth as well as for personal advancement. Altogether, there was a general loss of confidence in the economic future. The usual explanations include numerous factors, especially high consumer debt, ill-regulated markets that permitted overoptimistic loans by banks and investors, and the lack of high-growth new industries. These all interacted to create a downward economic spiral of reduced spending, falling confidence and lowered production. Also hard hit was the manufacturing of durable goods like automobiles and appliances, whose purchase consumers could postpone. The economy hit bottom in the winter of —33; then came four years of growth until the recession of —38 brought back high levels of unemployment. The Depression caused major political changes in America.
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The Great Depression Rich People
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Since graduating from university, Paul has worked as a librarian, bookseller, and freelance writer. Born in the UK, he now lives in Florida. Unemployed men outside a soup kitchen owned by mobster, Al Capone in Chicago. It is often used now as an example of how low things can sink economically. Public domain image via Wikimedia Commons.
10.05.2021 5:44:03 Felipe C.:
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