Major industries that had fuels the American economy were weakening

Major industries that had fuels the American economy were weakening

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Major industries that had fuels the American economy were weakening. Thus didn’t have the power to stimulate the economy as before. New industries such as chemicals, appliances, food processing weren’t yet strong enough to prevent depression or to ease the country out of it. - Declining farm prices: farmers had been in a depression since the early 1920s as they were hurt by falling prices. This had occurred as the end of the WWI, the European farmers were competing with the Americans. - Lack of regulation: government regulation. This lead to oligopolies that created rigid markets and an unstable and irresponsible banking system. - Poor distribution of income: in the 20s the rich were gaining a lot more money than everyone else. They used it to buy luxury goods. They aren’t able to stimulate the economy. The lower classes didn’t have enough income to partipate in the economy. - Weak labor movement: due to well fair capitalism, unions were weakened and weren’t strong enough to negotiate wages.
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