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you need to look a little beyond the surface. Things were totally different in that time period. For one it was a time of natural disaster. Many Many more people lived in rural areas. As for the stock market, there was a huge bubble everyone was riding on credit. The banking system failed because it invested money people were saving into stocks that failed. Thousands of banks failed and there was no money to loan out to businesses to help foster economic growth. Now we can control stock prices somewhat with fiscal policy and there are laws preventing banks from investing in risky stocks. The American economy was consumer based with much money being funneled into durable goods such as washing machines and automobiles. These items could only be afforded by so many people and the companies that produced these types of items didn't pay workers enough to buy them, and so after the 20's they ran out of potential customers due to the lopsided wealth distribution. When people aren't buying in a consumer driven economy things crash. Not the same today, who can't afford a car, or a computer, or a refrigerator? We have the economy in place to keep things going. Also, Hitler came to power because of the crippling reparations that were forced upon germany after WWI, and because American failed to intervene in European politics. Different foreign policy today, definitely not isolationist. Things in 1929 were totally, totally different than now. You are arguing that conditions look similar to those of Depression era times. I am arguing that things appear the way they do because of different causes and circumstances.
L.A.N.C.E.: Lifeform Assembled for Nocturnal Calculation and Exploration
"What a beautiful life this would be; if I could just get it right" Vallejo |
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