Flashcards in Causes of the Wall Street Crash Deck (4)
Uneven distribution of Wealth
Some regions were much more prosperous than others, whilst income was also distributed very unevenly throughout the country. The Northeast and Far West enjoyed the highest per capita incomes; in 1929 these were $921 and $881. In comparison the figure for the Southeast was $365.
Stability of Employment
Unstable owing to fluctuating demand for goods. During the first 9 months of 1929, of 165 families surveyed, 72% of the workers had been unemployed at some stage, and 43% had been jobless for a month.
The instability of 'get-rich quick' schemes
'Get rich quick' the aim of many Americans in the 1920s. They invested in hugely speculative ventures and inevitably many lost their money. Provided golden opportunities for confidence tricksters and crooks.