The domestic causes of the crash the impact of the Great Depression

The domestic causes of the crash the impact of the Great Depression at home The international impact of the Depression * Never mind the absurd efforts of the Dawes Plan, which simply added deb t on top of more debt. ** The average yearly income of American farmers was ONLY $240 per year. Overall, nearly 2/3’s of all American families lived on less than $2000 a year, which contemporary economists considered inadequate to supply even the basic necessities of life. By contrast, the top 1% received over 15% of the nations income, roughly equivalent to the amount received by the entire bottom 45%. Coolidge’s administration had made this even worse by drastically cutting income taxes for the wealthiest of Americans. A Fragile Economy (Strong on the outside, decaying on the inside) The Great Stock Market Crash of 1929 Hoover’s Response and the Misguided Reliance on “Individualism” The Global Impact of Depression The Human Toll A Ray of Hope?