John Maynard Keynes wrote that the depression was "not a crisis of poverty, but a crisis of abundance." What does this mean in reference to The Great Depression?

There was a great deal of supplies but the poor and needy couldn't get those goods.

The wealthy had all of the money but they chose not to spend money on normal consumer goods.

There was an abundance of jobs but poor people couldn't get to them.

The Great Depression was actually a problem for a few poor people who refused to work because there was an abundance of oppotunities available.

Question

History

Martin Cherry

28 August, 13:46

John Maynard Keynes wrote that the depression was "not a crisis of poverty, but a crisis of abundance." What does this mean in reference to The Great Depression?

There was a great deal of supplies but the poor and needy couldn't get those goods.

The wealthy had all of the money but they chose not to spend money on normal consumer goods.

There was an abundance of jobs but poor people couldn't get to them.

The Great Depression was actually a problem for a few poor people who refused to work because there was an abundance of oppotunities available.

+4

Answers (1)

Know the Answer?

Chloe Weiss · Answer 1

The grate depression was coused by the war soo that took alot of money from jobs and they hade to close down so no one hade a job so alot of people went poor ... the rich people where snart cuz there money wuld of got tooken too