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Essay text:
The Crash would dramatically reduce the total percentage of wealth held by the very top of the economic scale, and would create financial difficulties for many of them.
* A maldistribution of purchasing power-
Another theory holds that the fundamental maldistribution of purchasing power, the greatly unequal distribution of wealth throughout the 1920s, caused the Great Depression. According to this view, wages increased at a rate that was a fraction of the rate at which productivity increased. As production costs fell quickly, wages rose slowly, and prices remained constant, the bulk benefit of the increased productivity went into profits...
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Common topics in this essay:
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