Respuesta :
The factors that led to the Great Depression are: the stock market crash, banking panics and monetary contraction, the gold standard, and the decreased landing and tariffs.
Explanation:
The Great Depression happened during the 1920's and 1930's int he United States. the effects of this economic crises that lasted for around a decade were not just felt in the United States, but in the whole world. There still isn't a final consensus about the reasons for the Great Depression to occur, but there are four that are most commonly accepted and believed to have had a big role in it, those four factors being:
- the stock market crash of 1929
- banking panics and monetary contraction
- the gold standard
- and the decreased landing and tariffs
The stock market crash resulted in sudden chaos in the economy, so the distribution and allocation of the money was anything but well managed. On top of it, the panic of the banks, and the monetary contraction resulted in even further problems, as lot of money were retracted from the market. The gold standard was till in place, and while the gold is good for having a stable amount of wealth, it is hard to manage during a big economic crisis. The decrease of landing and tariffs led to lower amount of money coming from abroad into the American economy.
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According to Bernanke the factors that contributed to the Great Depression in America were:
- ignores the importance of the money supply
- the failure of the Federal Reserve to deal with the Great Depression due to incorrect policy decisions.
- Banking crisis
- Bad credit causes bankruptcy.
Further Explanation
Ben Shalom Bernanke is a Brookings Institution economist from the United States, where Ben Bernanke has served twice as chairman of the Federal Reserve which is the United States central bank. from 2006 to 2014. Bernanke led the operations of the Federal Reserve after the financial crisis of the late 2000s. Before becoming chairman of the Federal Reserve, Bernanke was a lecturer at Princeton University and head of the Princeton economics department from 1996 to September 2002.
From 2002 to 2005, he served as a member of the Board of Governors of the Federal Reserve System, proposed the Bernanke Doctrine, and introduced the "Great Moderation", the theory that the traditional business cycle has experienced a decline in volatility in recent decades after several structural changes in the international economy, especially increasing economic stability in developing countries, thereby reducing the impact of macroeconomic policies.
Bernanke later became chairman of President George W. Bush's Economic Advisory Council. Bernanke was installed for the second time on January 28, 2010, after being nominated by President Barack Obama.
The Great Depression was an event of a dramatic decline in the level of the economy throughout the world which began in 1929. This depression destroyed the economies of both the industrialized and developing countries. The volume of international trade has decreased dramatically, as has personal income, tax revenue, prices, and profits. Therefore the Great Depression greatly influenced the country's progress.
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The Great Depression https://brainly.com/question/1362669, https://brainly.com/question/987440
Details
Class: Middle
Subject: History
Keyword: The Great Depression, Ben Bernanke
