What economic factors and conditions converged in the late 1920s to plunge the nation into the great depression? why did president hoover’s response to the great depression fail?

#1 farmers piled up debt, over produced food causing prices to fall. 
industry produced more than was bought, many items bought on credit
disparity in wealth; few getting wealthy and not spending enough to match the production output
prices declined, people panis and sold stock and took money out of the banks

#2 in beginning, had a hands-off policy
then adopted a volunteerism policy but business and labor did not work together
local and state governments did not have resources to help people on a local level
created RFC to get loans to businesses but funds did not trickle doen to citizens
unemployment and homelessness high
Hoover did not reaction quickly enough and relied too much on local, state, and private efforts to fix the economic problems


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