The Cause Of The Great Depression
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The Cause Of The Great Depression
Cause of great depression
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The Great Depression - Australia

The Great Depression - Australia | The Cause Of The Great Depression | Scoop.it

The great depression started in 1929 and ended in 1932. The great depression was a time of great hardship for the people who lived in Australia. In mid 1930 after the crash of unemployment in Australia almost thirty two percent of Australians were out of work.

 

 

The great depression was an economic disaster because it caused a decline in international trade, personal income, tax revenue, prices and profits. This meant that there was no money circulating within the people of Australia. As a result no one could buy anything which meant businesses made no money and there were no jobs availble for people. This all started when the stock market crashed on october 29, 1929. It was known as Black Tuesday.

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The Cause of The Great Depression

The Cause of The Great Depression | The Cause Of The Great Depression | Scoop.it

The great depression occured for several reasons. One of the reasons was due to a fall in export prices and sales, also a fall in residential housing. Lastly a fall in overseas loans lead to a reduction in government capital spending.

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Australia's Recovery From The Great Depression

Australia's Recovery From The Great Depression | The Cause Of The Great Depression | Scoop.it

Australia recovered from The Great Depression a lot slower than the other nations. This was because of the Prime Minister Lyon's cautious approach where there was no planned economic recovery which included banking reform. Apart from this, the recovery saw the unemployment rate drop from 29% in 1932 to 10% in 1939.

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