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Everyone lost their money and jobs which lead to a shock around the world and global depression. It effected places all around the world like Austria and how their largest bank failed.
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Despite prosperity, several weaknesses in the U.S.
economy caused serious problems. These included uneven distribution of wealth, overproduction by business and agriculture, and the fact that many Americans were buying less. The stock market also crashed and no one wanted to buy anything anymore and everyone tried selling their stocks. -
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It caused philosophers and writers to question accepted ideas about reason and progress. They expressed religious beliefs, society's concerns, and react to uncertainties
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In the 1920s there was a widespread of electrical household appliances like refrigerators, washing machines, irons, coffee pot, and vacuum cleaner
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Developed new drugs and medical treatment, automobiles alter society (around 1913), airplanes transform travel (1919), radio and movies dominate popular entertainment (1920)
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The 20th century was greatly impacted by Albert Einstein and Sigmund Freud. In 1905, Einstein created the theory of relativity which was the idea about the interrelationships between time and space and between energy and matter. Freud treated patients with psychological problems and he conducted a theory about the human mind and how the human behavior is irrational which he called the unconscious. In the 1920s, Freud's theories had developed widespread influence.
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