The Great Depression

The beginning of the twenties started out slow with a brief recession but it didn't last long; by the early to mid twenties the economy started growing rapidly. By 1929, the Gross National Product (GNP) - the total value of goods and services produced had risen from $75 billion to $84 billion. Manufacturing output rose by 64% due to the manufacturing of the automobile, construction of new dwellings, and manufacturing of radios (Washburne, 1995). Life was good but would not last too much longer for the U.S. economy would soon be taking an unanticipated turn and enter "The Great Depressio…