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Great Depression
Part 1 of Paper
....y all of the industrialized world. The Depression began in late 1929 and lasted for nearly a decade. Many factors played a role in bringing about the Depression; however, the main cause for the was the combination of the greatly unequal distribution of wealth throughout the 1920's, and the extensive stock market specu.... Part 2 of Paper
.... to the bottom 42% in 1929. That same top 0.1% of Americans in 1929 controlled 34% of all savings, while 80% of Americans had no savings at all. Automotive industry mogul Henry Ford provides a striking example of the unequal distribution of wealth between the rich and the middle-class. Henry Ford reported a personal income of $14 million in the same year that the average personal income was $750. By present day standards, where the average yearly income in the U.S. is around $18,500, Mr. Ford wo.... |
| Number of words: 3395 - Approximate pages: 13 |
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