{"product_id":"how-the-crash-of-1929-caused-te-great-depression-paperback","title":"How the Crash of 1929 Caused te Great Depression - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eJohn C. Harvey\u003c\/b\u003e (Author), \u003cb\u003eMary Keil\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cem\u003eHow the Crash of 1929 Caused the Great Depression\u003c\/em\u003e is a groundbreaking analysis using a previously untapped archive of data that expands our understanding of the causes of the Depression and of its protracted nature.\u003c\/p\u003e\u003cp\u003eThe book reveals that the Great Depression had two major causes. One arose in the business sector and constitutes the core of the traditional explanation of the events of 1929-33 given by economists. A precipitous drop in fixed investment by American businesses did indeed take place. But The Great Deleverage presents a second critical, even predominant cause: the aggregate behavior of consumers in the wake of the Crash. According to analyses conducted by the authors, individual Americans-including large numbers of consumers, business owners and ex-speculators wiped out in the Crash-realized that they were much deeper in debt than was prudent and began repaying that debt as fast as possible.\u003c\/p\u003e\u003cp\u003eUsing Aggregate U.S. Corporate Balance Sheet statistics for each year of 1929-33 discovered within the archives of a division of the U.S. Treasury Department, the authors show that each year from 1930-33 American consumers repaid their lenders more than the drop in fixed business investment for the year-at least 3.0% more in 1930, 80.0% more in 1931, 80.6% more in 1932, more than 100.0% in 1933. American consumers did this by reducing their personal consumption expenditures-i.e., by tightening their belts. As an expression of the era intoned, they \"used it up, fixed it up, made it do, wore it out or went without.\"\u003c\/p\u003e\u003cp\u003eMaking copious reference to statistics compiled during 1927-33, as well as estimated later, \u003cem\u003eHow the Crash of 1929 Caused the Great Depression\u003c\/em\u003e demonstrates the direct cause-and-effect linkage not only between the speculation and other debt creation of the 1920s and the Crash, but also between the Crash and the Great Depression-the precipitating causes, and overall causal process of this historic and momentous economic disaster.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 398\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.89 x 9 x 6 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e March 26, 2026\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":53376962330931,"sku":"9798991073486","price":44.8,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0300\/5595\/6612\/files\/csgjUG8m1d9798991073486.webp?v=1779310562","url":"https:\/\/www.vysn.com\/products\/how-the-crash-of-1929-caused-te-great-depression-paperback","provider":"VYSN","version":"1.0","type":"link"}