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(i.e., Europe)
The triggering event was the crash of the Wall Street stock
market in October of 1929. The stock market collapsed after steady
declines in production, prices and incomes over three previous months
which forced the speculators to revise their expectations. Anxiety
soon gave place to panic which led to the crash...
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Anxiety
soon gave place to panic which led to the crash. However, the
depression affected the different industrialized countries in various
ways and degrees of intensity.
The depression was of especially great magnitude in the U.S.
because there were not any welfare benefits for laid off workers...
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General points of the essay
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