If every country’s’ money was suddenly not worth as much, wouldn’t there be no effect? Like if the whole word decided collectively to make everything 50% cheaper, but make peoples pay also lower as well. Wouldn’t the buying power be the same?
In: 65
The economic and montairy policy wasn’t the only cause of the great depression. It was also a time when very productive agrilcuteral areas suffered a very serious drought, greatly reducing the productivity of many farms.
This in turn increased the prices of food and other staple items. Wages were flat or falling as it became more expensive to live.
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