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The Main Causes Of The Great Depression

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The Great Depression studded everyone politically. Before the Great Depression, the Federal Reserve tightened credit 5-10%, disabling the ability to liquidate loans. This resulted in a recession that was one of the many causes of the Great Depression (The Editors of Encyclopedia Britannica). The confidence in President Herbert Hoover’s idea of capitalism began to falter (Amadeo). In order to restore prosperity, President Franklin D. Roosevelt put in place the New Deal. The New Deal contained many acts, including the National Labor Relation Act and Social Security Act (History.com Staff). Congress also passed Smoot-Hawley tariffs to protect United States jobs with the worsening economy. Countries responded with trading blocs that were based
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