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Great Depression

            This paper is an effort to explain how the great depression affected the American .
             culture, to include what the problems were in the economy and what led to the biggest .
             economic downfall in United States history. Also, this paper will describe what the .
             American people went through and how the government reacted to the devastation .
             decade that changed so many Americans lives, and restructured the way that we live now.
             The "roaring twenties" was an era when the American people prospered .
             tremendously. During this period, the nation's total income rose form 74.3 billion in .
             1923, to 89 billion in 1929. The reason for this enormous growth was because of the 2 .
             major industries that evolved after WWI; such as automotive and the radio industry.
             Due to the demands of the war, automobiles, radio and their parts were being built in .
             large quantities causing the workforce to increase. From 1925-1929, the average worker .
             output per worker in these industries increased 32% in manufacturing, and the wages .
             for manufacturing increased at one fourth as fast as the productivity increased. President.
             Coolidge also helped the American people, he reduced federal income taxes and .
             inheritance taxes dramatically. So the average American was living quite content, but .
             had no savings if something was to happen like, The Great Depression. While the .
             automotive industry was booming, the agriculture was declining steadily and our nations .
             loans were increasing to Europe. .
             The misdistribution of wealth in the 1920's existed in many levels, money was .
             distributed disparately between the rich- lower class, between industries and agriculture .
             within the United States and between the U.S. and Europe. This imbalance of wealth .
             led to an unstable economy; for an economy to function well the total demand must equal.
             the total supply. Unfortunately, America was not functioning that way. Essentially what .
             happened in the 1920's, was there was a oversupply of goods and the American culture .

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