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It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers. Interest payments alone accounted for 63.2 per cent of the country's shrinking income. The government responded to the crisis by borrowing more money from abroad. The Great Depression of 1929 devastated the U.S. economy. A third of all banks failed. 1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted 67%, international trade collapsed by 65%, and deflation soared above 10%.
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Answer:
the main reason was it was during this time the foundation was laid towards the industrial revolution, as new technologies and innovations were made to enable mass production and develop factories and an economy that was completely different from the existing one.
moreover, the revolutionary events such as the french revolution, american revolution showed that pure colonialism and the mercantilist way of economy was not working anymore.
moreover, the development of share markets, bonds, banks and financial institutions along with new and complex ways of financial instruments and derivatives, the foundation for the industrial and financial capitalism was laid.
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Answer:
Under the terms of the treaty negotiated by Trist, Mexico ceded to the United States Upper California and New Mexico. This was known as the Mexican Cession and included present-day Arizona and New Mexico and parts of Utah, Nevada, and Colorado (see Article V of the treaty).
Civilization in each region developed advance math,science, and engineering.
