Many historians cite the Stock Market Crash of 1929 as the beginning of the Great Depression. However, many people in the south experienced the effects of the Great Depression well before 1929. Explain why this was the case.
(3 points)
1. Agricultural Sector: The agricultural sector in the south was already struggling before the Stock Market Crash due to a variety of factors such as overproduction, falling prices, and natural disasters. Farmers were already facing economic hardship and debt, which worsened as the depression set in.
2. Industrial Decline: The industrial sector in the south was also facing challenges leading up to the Great Depression, with many industries such as textiles, lumber, and coal mining already experiencing declines in production and employment. This meant that many workers in the south were already struggling with unemployment and economic instability before the crash.
3. Poverty and Inequality: The south was already one of the most impoverished regions in the country before the Great Depression, with high levels of poverty, inequality, and limited social safety nets. This meant that many people in the south were already living in precarious economic situations and were particularly vulnerable to the effects of the depression when it hit.