1. THE CAUSES OF THE GREAT DEPRESSION
The Great Depression was caused by weaknesses in the New Era economy. The most damaging factor was the unequal distribution of wealth and income. A second factor was that oligopolies dominated American industries. Their power led to "administered prices," prices ... overproduction, declining prices, and heavy debt; so did the coal and textile industries. Banks also had contributed to the Great Depression and the instability of prosperity because they were poorly managed and regulated. They now threatened to spread the panic and depression. Another contributing factor to the Great Depression...
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