Which factor best explains the decline in the number of bank failures by 1937?
What factor best explains the decline in the number of bank failures by 1937? New banking laws restored public confidence in banks.
How did the gap between the rich and poor slow down recovery?
How did the gap between the rich and poor slow down recovery? It slowed it down because they weren’t effected and the poor were immediately, the rich also did not decide to help them they thought it would blow over.
How did maldistribution lead to the Great Depression?
Money was distributed disparately between the rich and the middle- class, between industry and agriculture within the United States, and between the U.S. and Europe. These market crashes, combined with the maldistribution of wealth, caused the American economy to capsize.
How did the unequal distribution of wealth during the 1920s contribute to the fundamental cause of the Great Depression?
During the 20’s, low wages for many Americans help cause the uneven wealth because many Americans worked in factories or on farms that did not leave them with a lot of money. The economy relied on the rich and the rich reaped the benefits of the billions of dollars America was making.
How was the unequal distribution of wealth connected to the Great Depression?
The unequal distribution of wealth was connected to the Great Depression in that the wealthiest classes controlled much of the income and savings and the lower classes worked for low wages and were unable to save.
Which state has the highest income inequality?
New York was the state with the greatest gap between rich and poor with a Gini coefficient score of 0.51. Although not states, Puerto Rico and the District of Columbia had the highest Gini coefficients in the United States that year.
Who got wealthy in the Great Depression?
Paul Getty. An amazing beneficiary of good timing and great business acumen, Getty created an oil empire out of a $500,000 inheritance he received in 1930. With oil stocks massively depressed, he snatched them up at bargain prices and created an oil conglomerate to rival Rockefeller.