1. Reasons for the Great Depression
... about 80% of people had no savings at all" (Fremon 16). A major reason for this large gap between the rich and the poor was the increased manufacturing output. "From 1923-1929 output per worker increases 32%."(Fremon 18) However during that same time "average wages for manufacturing jobs increased only 8%"( Fremon 23). As a result, production cost rose quickly and ... in rural areas became more frequent. The textile industry, the railroad industry, and mining and lumbering industries were affected too. Much like the agricultural industry the textile industry suffered from decreased dema...
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- Grade Level: High School