The decade of the 1920s was a time of great prosperity in America, and the country saw the beginnings of consumerism and social change. When President Hoover was elected in 1928, he foresaw a country with a bright future and did not expect the economic downturn that came shortly after his inauguration.
Although the stock market crash in October 1929 is one obvious cause of the Great Depression, there were many underlying causes. What were these, and how did they contribute to the financial decline? What were the major consequences of the Depression? Why do you think it took so long for the government to react?
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