LotsOfEssays.com

ces preceding the depression, these influences must be explained.

In the first place, there was the familiar business cycle recession. For industry, the 1920s had been marked by prolonged prosperity. This was particularly notable in the field of construction and other capital production. During this period, there was an unusually large expansion of credit because of easy-credit policies which resulted in increased profits. As often happens following a period of prosperity,

...