Economic growth stalled from "summary" of The Great Crash 1929 by John Kenneth Galbraith
The most striking characteristic of the economic panorama in the later twenties was the stalling of growth. The nation had grown accustomed to the idea that things would get better and prosperity would continue. But this expectation was shattered as economic growth came to a standstill. Business activity, which had been expanding at a significant pace, suddenly hit a roadblock. The usual signs of growth and progress were no longer evident. Production levels stagnated, and the overall economy seemed to be stuck in a rut. Investors and businessmen were left perplexed by this unexpected turn of events. The engine of economic growth had seemingly run out of steam, leaving many to wonder what had gone wrong. The optimism that had been so prevalent was replaced by a sense of uncertainty and doubt. The consequences of this stalling of growth were far-reaching. Jobs were lost, businesses struggled to stay afloat, and consumer confidence plummeted. The once-booming economy was now faced with a grim reality of stagnation and decline. As the economy grappled with this new reality, the stage was set for the events that would eventually lead to the great crash of 1929. The stalling of economic growth was a critical turning point that laid the groundwork for the economic disaster that was to follow.
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