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How Electrification Caused the Great Depression

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Uploaded by on Sep 3, 2009

Provides a resume of economics professor Bernard C. Beaudreau's radical theory of the Great Depression according to which both the Stock Market Crash of 1929 and the ensuing Great Depression were ultimately caused by the electrification of industry. Productivity soared, while income and expenditure remained constant, giving rise to underincome. Policy makers attempted to correct this imbalance (Smoot-Hawley Tariff Act of 1930 and the National Indutrial Recovery Act of 1933) but were largely unsuccessful.

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