He thought it was necessary to grant helps to entrepreneurs and reduce public expenditure, but the crisis was not overcome. The US President of the time, the Republican Hoover, refused benefits to the great number of jobless Americans. Moreover, the Stock Exchange was unable to sell and the value of shares reduced notably so that many people went bankrupt. The same thing happened to farmers and the result was that numerous banks failed, too. Actually production had increased so much that it was impossible to find buyers both in America and Europe.Ĭonsequently, industries, unable to sell, failed, while their owners, in turn, were not able to return money borrowed from banks. Scienza delle Finanze: Il modello keynesiano, la spesa pubblica e l'aumento della spesa pubblica. However, in October 1929, suddenly, the Stock Exchange collapsed. Collegamenti Crisi economica del 1929 tesina Storia: La grande crisi economica del 1929. After taking part in the First World War, besides exporting its agricultural and industrial products to Europe, it helped European industries to overcome the post-war crisis, investing large capitals, too.īetween 19 the value of the shares exchanged at Wall Street went up enormously. enjoyed an extraordinary economic growth.
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