The causes and effects of the great depression in america

7 causes of the great depression

The prairie grasses that held topsoil in place were stripped. The wealthy tended to save money that might have been put back into the economy if it were spread among the middle and lower classes.

causes of the great depression essay

Other countries increased their tariffs as well, and trade between nations plummeted for several years. Confidence in the economy was shattered. As a result, many banks went bankrupt. No one was killed, but the episode left a bad taste in the mouths of many Americans.

It was a number of factors all coalescing into more than a decade economic misery. InProhibition was repealed.

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Effects of the Great Depression