The Reasons And Influence Of The Crash Of The American Stock Market In 1930's

The thesis analyzed the reasons and influence of the crash of the American stock market in 1930's. The thesis were divided into five parts.The first part is preface, introduced the intention and the significance of the thesis, also introduced about the crash of stock market and economic crisis of American in 1930's of research on the survey in these few years.The second part researched into the definition of "The Great Crash 1929".There is a kind of misunderstanding about the views of the crash of the American stock market in 1930's.That is, as the crash of the stock market occurred in October 1929 "Black Tuesday" or "Black Thursday" that one day. That the stock is fully to the bottom within the same day, and then depressed. In fact, after the crash in 1929 there are still ups and downs, until it stopped mid-1932 downward trend. The American stock market to fall by the expansion and then fell to the bottom then continues to plumb the course of this series in 1920's to 1930's.The crash of the stock market should be included in from October 1929 to July 1932 the concept of the phased period.The third part analyzed the reasons of the crash of the American stock market in 1930's. Three small parts constituted this part. The first, Non-healthy economic fundamentals before the crash of the stock market. From 1922 to 1932, this period of sustained economic growth the American, but less then the American government's laissez-faire style economic control policies, has led to unequal distribution of national income, a widening gap between rich and poor. Majority of the population of the general American public revenue and not much improved, so the needs of the market is dependent on the high consumption expenditure. In the vast rural areas, agriculture's long-term downturn in revenue fall for farmers, little spending power to buy industrial products. Meanwhile, American exports in foreign markets shrinking, adding to the shortage of domestic consumption. Production of relative surplus to expand the economic fundamentals of the unhealthy level of increase. The second, there are serious shortcomings before the crash of the American stock market. Since then the stock buys, public investment psychology, stock market supervision system's shortcomings, caused the stock market speculative bubbles and excessive growth, and pave the way for the crash. The third, the improper monetary policies which were carried by the FED. The FED before the laissez-faire in the crash of stock market regulation and streamline, culminated in the crash of unavoidable, and the crash of the improper monetary policies after the stock market crash has expanded the negative impact to stock market, the crash has become increasingly serious.The forth part expatiated the influence of the crash of the American stock market. Two small parts constituted this part. The first, the crash of the American stock market brought a extreme impact to the economic and social of the America and the world.The crash of the American stock market brought a extreme negative impact to the real economy of the America. The crash eventually evolved into the financial, industrial, agricultural, trade crisis broke out simultaneously, economic stagnation, high unemployment, social unrest. The further spread of the crisis, stock market crash led to an international trade war, causing the collapse of the international monetary system, the Western countries have fallen into a recession. The second, the stock market crash and the America should permit the reform of the stock market system. The crash has revealed the disorder and exposed to a deficiencies in the stock market, while has greatly increased the prosperity of the stock market hidden under the exposure of illegal acts in 1930's.Newly elected President Roosevelt took large-scale reform measures in the stock trading system. The stock legislation and other measures adopted constitute the basic characteristics of Wall Street regulatory framework, and formed a relatively tight on the American stock market management network.The last part is epilogue, summarized the main points of the thesis.