History 1807 Study Guide - Final Guide: John Maynard Keynes, Herbert Hoover, Bretton Woods System
23 Nov 2017
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Corporate liberalized market: push for deregulation and opening markets to the outside world. A period of great prosperity and one big party : masked all the problems that were evident in the 1930s. Stagnant wages: growing access to credit people didn"t realize state of their wages, emergence of an economy that is reliant on credit, gets bad when stocks are bought using credit. Increasing amount of people were active speculators of wall street, but was not the only reason the depression continued: government response was moving away from laissez-faire and instead going forward with the new ideals of the 19th century. Herbert hoover: told people that the market will correct itself, therefore, keep doing what we are doing. Job loss - the companies can"t afford to employ as many people: no protection for assets in the 20s such as present day insurance. Reason for the depression is because there are no savings available.
