The economy was doing so well during the twenties that the factories started to mass-produce goods and the small percentage of people who were making huge profits off of the mass production put their profits back in the companies. Eventually the consumers couldn’t keep up with the mass overproduction, so they started purchasing goods on credit. The producers made a stockpile and since the economy was soft they decided to stop production of goods. When they stopped the production of goods, they laid off many factory workers. Those workers who were let go could not pay back the credit that they owed. Everyone started panicking, so they rushed to the banks to take out their life savings, only to find that the banks had gone bankrupt. The poor distribution of wealth was such that wagers could not keep up with the market. In addition to the above, technology was quickly advancing, so there became technological unemplo

yment; meaning machines took the place of humans. As a result of the combination of all this, the stock market came to a devastating crash in October of 1929.

3. There was a need to enact reform to prevent this depression from ever happening again.

1. There was a need to provide relief for the thousands of Americans who were out of work and broke.

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