Did the Prosperity of the 1920's
Cause the Depression ?
In my opinion, I think that the prosperity of the 1920’s did partly cause the Great Depression. I feel this is true because, although the 1920s appeared to be a time of great prosperity, in fact, it was a time of many weaknesses in the world economy. The apparent wealth was unevenly distributed. The wealthy, the “captains of industry” made huge profits on things like railroads
showed first 75 words of 475 total
showed last 75 words of 475 total
wealth formation: tax cuts for the rich people allowed them to keep most of the money they made, while providing little or none for social services for the poor or the farmers.
This is why I think that the prosperity of the 1920s did inevitably lead to the great Depression, because it was a false prosperity, and actually most people were not a prosperous as they thought. They had the possessions, but not the wealth.