what was an economic development that contributed to the great depression
Causes of the Great Depression In the first three decades of the 20th century productivity and economic output surged due in part to electrification, mass production and the increasing motorization of transportation and farm machinery. Electrification and mass production techniques such as Fordism permanently lowered the demand for labor relative to economic output.[46][47] By the late 1920s the resultant rapid growth in productivity and investment in manufacturing meant there was a considerable excess production capacity.[48]
Homestead Strike The Homestead strike broke the AA as a force in the American labor movement. Many employers refused to sign contracts with their AA unions while the strike lasted. A deepening in 1889 of the Long Depression led most steel companies to seek wage decreases similar to those imposed at Homestead.[59]
My Ántonia
New Deal Recovery was the effort in numerous programs to restore the economy to normal health. By most economic indicators, this was achieved by 1937—except for unemployment, which remained stubbornly high until World War II began. Recovery was designed to help the economy bounce back from depression. Economic historians led by Price Fishback have examined the impact of New Deal spending on improving health conditions in the 114 largest cities, 1929–1937. They estimated that every additional $153,000 in relief spending (in 1935 dollars, or $1.95 million in year 2000 dollars) was associated with a reduction of one infant death, one suicide and 2.4 deaths from infectious disease.[61][62]