1. The Great Depression
... was so much more moderate than it had been during the previous episode of depression. (Himmelberg, 8) There also had developed a deeply engrained belief, especially in business circles, that the modern economy, with its immense production and consumption of so great a variety and volume of consumer goods, had become virtually depression-proof. (Himmelberg, 8) Unemployment rose steadily throughout 1930; consumer spending and production of goods and services fell ... relentlessly, even though gradually; the stock market continued its decline; farm prices collapsed; and many banks ... ...
- Word Count: 5420
- Approx Pages: 22
- Has Bibliography
- Grade Level: Undergraduate