POINT EXPLAIN EXAMPLEUNEVEN DISTRIBUTION OF INCOME

ALL U.S. CITIZENS DID NOT BENEFIT FROM THE ECONOMIC BOOM.

REGIONAL VARIATIONS – AREAS WITH ‘NEW’ INDUSTRIES (CARS, ELECTRICAL GOODS etc) GENERALLY DOING WELL (ILLINOIS, MICHIGAN, PENNSYLVANIA); AREAS WITH ‘OLD’ INDUSTRIES DOING BADLY (TEXTILES- NEW ENGLAND, COAL MINING – KENTUCKY, AGRICULTURE – MAINLY WEST & SOUTH). EVIDENCE – ‘PER CAPITA INCOMES IN 1929’ (COPY)

POINT EXPLAIN EXAMPLESAME SAME GENDER VARIATIONS – WOMEN

STILL EXPECTED TO MAINTAIN TRADITIONAL ROLES AND BE PAID LESS THAN MEN. EVIDENCE – 1930 ONLY 150 FEMALE DENTISTS AND 100 FEMALE ACCOUNTANTS IN WHOLE USA; 5% FEWER WOMEN RECEIVED A COLLEGE EDUCATIONETHNIC VARIATIONS – AFRICAN AMERICANS IN WORST-PAID JOBS IN WORST-PAID AREAS (10% LIVED IN SOUTH)

POINT EXPLAIN EXAMPLEAGRICULTURE WAS DOING BADLY BECAUSE OF OVER-PRODUCTION

• BENEFITED FROM WW1

• TRIED TO KEEP SAME LEVEL OF PRODUCTION

• RELIED ON LOANS

• DECLINE IN DEMAND FOR BARLEY AND WHEAT ….

• NUMBERS OF FARMS CLOSING DOWN….

• POOR LIVING CONDITIONS ON FARMS…

POINT EXPLAIN EXAMPLEGET-RICH – QUICK SCHEMES NOT ALWAYS SUCCESSFUL

BANKING SYSTEM UNREGULATED

CONFIDENCE IN THE BOOM LED TO MANY INVESTING IN UNREALISTIC OR FRAUDULENT VENTURES

GOVT. POLICY OF LAISSEZ-FAIRE

• FLORIDA LAND BOOM…

• BUYING SHARES ‘ON THE MARGIN’…

• NUMBER OF SMALL BANKS…

• KNOCK-ON EFFECT IF STRUGGLING…