bankrupt and lost their farms…’”. During and after World War I, the market was at its all time high with businesses doing greatly and men coming back from war getting jobs. Farmers started to produce a lot of goods because the prices fell and people could then afford them. With so many farmers growing the same thing, there is no competition so there was too many of the same food products to sell. As the stock market crashed, people couldn’t afford to by the food as they lost all their money to investments, so farmers couldn’t pay off their loans to the bank and lost their farms. Farmers are such an important part of society and for them not being produce an adequate amount of food for Americans since they don’t have enough money to keep up operations, causes big issues. If farmers were to produce a normal amount of goods and have it sold for a reasonable price, the stock market could of been stable. Another cause of the stock market crash is due to installment buying. In the article, Should We Stop Installment Buying? Yes. “Installment Buying and Its Costs” by AmericainClass.org,
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- Summer '16
- Tom McGrath
- Great Depression, Wall Street Crash of 1929