1. The Great Depression
It was caused by the world market's crisis with the production and distribution of goods, the refusal of the U.S. and it's trading partners to cooperate, and the difficult financial situation caused by World War I and the peace settlement following. ... Obligations to pay back war debts slowed business expansion and international trade. ... All of these factors hurt trade, production and employment greatly. ... When the import tariffs rose, farmers in poorer countries could no longer afford to trade their crops for the industrial goods they needed in order to keep their businesses...
- Word Count: 378
- Approx Pages: 2
- Grade Level: High School