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How did the Great Depression affect the economy?
How did the Great Depression affect the American economy? In the United States, where the Depression was generally worst, industrial production between 1929 and 1933 fell by nearly 47 percent, gross domestic product (GDP) declined by 30 percent, and unemployment reached more than 20 percent. The Great Depression had devastating effects in countries both rich and poor. Personal income, tax revenue, profits, and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25% and in some countries as high as 33%. The key factor in turning national economic difficulties into worldwide Depression seems to have been a lack of international coordination as most governments and financial institutions turned inwards. ... The Depression caused the United States to retreat further into its post-World War I isolationism.
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better conditions for workers would need to grade their productivity. He put these beliefs into practice at his text textile Mills in Scotland
The small family farm began to be bought up over time.
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Conformity in the 1950s During the post WWII period in America, the face of the nation changed greatly under the presidency of Truman and Eisenhower. America underwent another era of good feelings as they thought themselves undefeatable and superior over the rest of the world.
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