Great Depression

Part I of Essay
The was the worst economic slump ever in U.S. history, and one which spread to virtually all of the industrialized world. The depression began in late 1929 and lasted for about a decade. Many factors played a role in bringing about the depression; however, the main cause f ....

Part II of Essay
.... income rose from $74.3 billion in 1923 to $89 billion in 1929. However, the rewards of the "Coolidge Prosperity" of the 1920's were not shared evenly among all Americans. In 1929 the top 0.1% of Americans controlled 34% of all savings, while 80% of Americans had no savings at all. Automotive industry mogul Henry Ford is one example of the unequal distribution of wealth between the rich and the middle-class. Henry Ford reported a personal income of $14 million in the same year that the average persons income was $750. By present day standards ....