POINTEXPLAINEXAMPLE UNEVEN DISTRIBUTION OF INCOME ALL U.S. CITIZENS DID NOT BENEFIT FROM THE...
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Transcript of POINTEXPLAINEXAMPLE UNEVEN DISTRIBUTION OF INCOME ALL U.S. CITIZENS DID NOT BENEFIT FROM THE...
POINT EXPLAIN EXAMPLEUNEVEN DISTRIBUTION OF INCOME
ALL U.S. CITIZENS DID NOT BENEFIT FROM THE ECONOMIC BOOM.
REGIONAL VARIATIONS – AREAS WITH ‘NEW’ INDUSTRIES (CARS, ELECTRICAL GOODS etc) GENERALLY DOING WELL (ILLINOIS, MICHIGAN, PENNSYLVANIA); AREAS WITH ‘OLD’ INDUSTRIES DOING BADLY (TEXTILES- NEW ENGLAND, COAL MINING – KENTUCKY, AGRICULTURE – MAINLY WEST & SOUTH). EVIDENCE – ‘PER CAPITA INCOMES IN 1929’ (COPY)
POINT EXPLAIN EXAMPLESAME SAME GENDER VARIATIONS – WOMEN
STILL EXPECTED TO MAINTAIN TRADITIONAL ROLES AND BE PAID LESS THAN MEN. EVIDENCE – 1930 ONLY 150 FEMALE DENTISTS AND 100 FEMALE ACCOUNTANTS IN WHOLE USA; 5% FEWER WOMEN RECEIVED A COLLEGE EDUCATIONETHNIC VARIATIONS – AFRICAN AMERICANS IN WORST-PAID JOBS IN WORST-PAID AREAS (10% LIVED IN SOUTH)
POINT EXPLAIN EXAMPLEAGRICULTURE WAS DOING BADLY BECAUSE OF OVER-PRODUCTION
• BENEFITED FROM WW1
• TRIED TO KEEP SAME LEVEL OF PRODUCTION
• RELIED ON LOANS
• DECLINE IN DEMAND FOR BARLEY AND WHEAT ….
• NUMBERS OF FARMS CLOSING DOWN….
• POOR LIVING CONDITIONS ON FARMS…
POINT EXPLAIN EXAMPLEGET-RICH – QUICK SCHEMES NOT ALWAYS SUCCESSFUL
BANKING SYSTEM UNREGULATED
CONFIDENCE IN THE BOOM LED TO MANY INVESTING IN UNREALISTIC OR FRAUDULENT VENTURES
GOVT. POLICY OF LAISSEZ-FAIRE
• FLORIDA LAND BOOM…
• BUYING SHARES ‘ON THE MARGIN’…
• NUMBER OF SMALL BANKS…
• KNOCK-ON EFFECT IF STRUGGLING…