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Chapter 1 - The coming of the Depression (The Wall Street Crash was one of…
Chapter 1 - The coming of the Depression
Less money to buy goods
Demands for goods drop
Company profits fall
workers laid off
The Depression was multi causal
The Wall Street Crash was one of the causes of the depression
International
recall of loans
competition for markets
Long term
stayed reliant on heavy industries
failed to evolve production mehtod
Domestic
Free trade policy and import duties
Reliance on old industrial glory days
Short term
Wall Street Crash
Before the crash,Britain was weak because of their obsolete methods and competition
Productivity was slow
Higher price - slower rate
customers looked elsewhere
USA mass production - motor cars