The Great Depression,1929IntroductionThe great crash or the castrophy was on 29thOctober when the economy enormously fell. After theWorld war 1 the government distributed bonds to the general public to pay for the war, the marketflourished with enormous amount of money and with new technological advancements. It was theera of boom and prosperity and the people started looking for the new opportunities to invest in. themarket flourished and the stock went higher and higher until end September and the starting ofOctober 1929 when the prices for the stocks started to fall and it was on 24thOctober 1929 popularlyknown as black Friday when the market collapsed within next 5 days. Causes:People were unaware of how stock market works.There was low level of government intervention and stock market was running on its self-maderules and regulations.There was market manipulation and insider trading in which people used to buy their ownstocks at a higher price and then dump that stock in the market so as to gain more money andpeople used to suffer losses.
You've reached the end of your free preview.
Want to read all 3 pages?
- Spring '18
- Wall Street Crash of 1929