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A Further Study To Lawrence Stratton'S Economics Of The Great Depression

   
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Title: A Further Study To Lawrence Stratton'S Economics Of The Great Depression
 
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Subject: American History
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Date: October 11, 2008
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Length: 3 / 776
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In the “booming” 1920s, citizens could freely invest in business and have little risk that the venture would fail. Therefore, citizens were tempted to borrow money and invest it into the stock market for “easy money.” Irving Fisher, an economist of the 1930s, described that principle in his article “The Debt-Deflation Theory of Great Depressions” when he stated that easy “money is the great cause of over-borrowing...
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When an investor thinks he can make over one hundred percent per annum by borrowing at six percent, he will be tempted to borrow, and to invest or speculate with the borrowed money” (338). The nation was investing money on the growing stock market, but when the stock market crashed on October 29, 1929, millions of dollars were vaporized due to sheer number of stocks being sold...
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