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]
Great Depression in Australia Australia suffered badly during the period of the Great Depression of the 1930s. The Depression began with the Wall Street Crash of 1929 and rapidly spread worldwide. As in other nations, Australia suffered years of high unemployment, poverty, low profits, deflation, plunging incomes, and lost opportunities for economic growth and personal advancement.