Elucidate any three factors that led to the Great Depression.
Points to Remember
Around 1929, the Great Depression started , and it lasted until the middle of the 1930s . Most regions of the world experienced sharp declines in output, employment, earnings, and commerce during this time. The most severely impacted areas and communities were those in agriculture.
The causes for Great Depression were
- Post-world War economy of the world was fragile. Overproduction in agriculture was a major issue
- US overseas loans amounted to over $ 1 billion in the first half of 1928.
- The stock market crisis had an impact on bank failure.
- Increase in US import duty.