Reasons for Great Depression

The Great Depression of 1929 was mostly due to international factors rather than domestic factors. However, when over viewing the prime causes of the Great Depression one must distinguish five- the conclusion of World War I, the decline of international trade due to high tariffs, monetary policies (in particular the gold standard), the slowing of the American economy in 1929, and the stock market crash. Clarence L. Barber in his Origins of the Great Depression emphasizes international factors and is supported by Robert McElvaine in his Encyclopedia of the Great Depression. Meanwhile, Christina D. Romer attributes domestic causes as the source of the Great Depression and is supported by John Findling in his Events that Changed America in the 20th Century and in An Eyewitness History: The Roaring Twenties by Tom Streissguth. However, it has been concluded that the origins of the Great Depression were mostly due to the international factors which Barber states in his argument. Clarence L. Barber in his On the Origins of the Great Depression argues that the Great Depression is attributed to international causes, predominately three- the end of World War I, monetary policies, and international trade. He is then supported by Robert S. McElvaine in his Encyclopedia of the Great Depression, who particularly places much importance on the end of World War I and claims it is a primary cause of the Great Depression. Before analyzing their claims, both Barber and McElvaine must be viewed as sources. Clarence L. Barber has numerous journal publications and is well-known for his contribution in the work entitled The American Economic Impact in Canada. Therefore, one may assume he is a knowledgeable source on the subject of American economy. Meanwhile, Robert S. McElvaine is the chairman of the history department at Millsap College; he also has written books entitled The Depression and the New Deal and The Great Depression: America 1929-1941. Therefore, one may assume that

Bibliography: Allison, Robert J. "Causes of the Great Depression." History in Dispute Volume 3 (2000). Bernstein, Michael A. "Why the Depression Was Great: Toward a New Understanding of the Interwar Economic Crisis in the United States." (1989). Westport: Greenwood Press, 1996. McElvaine, Robert S. "The Great Depression, 1929-1941." (1982). McElvaine, Robert S McMillan Reference USA, 2004. Romer, Christina D Volume 7, No. 2 (1992). Streissguth, Tom Termin, Peter. "Did Monetary Forces Cause the Great Depression?" (1976).