Great Depression
Published on Nov 21, 2015
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Crash of 1929
The stock market crashed on October 24th, 1929. Everything was optimistic and happy. Business's as amazing and great. Then the stock market crashed. This affected business because a lot of people invested in these stocks. A lot of the peoples money came and went to the market. When the market crashed the peoples money were gone. This affected business because there was no money to buy anything. With the crash of the stock market many business closed. With business closing many people were unemployed affecting business.
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Families
The economic decline affected jobs and wages because they didn't have money. With the decline of money the business's didn't have enough profit to pay everyone. Because of this many people we're unemployed and wages were lowered. The highest unemployment rate in the US was 25% during 1933. Shantytowns were slums for the poor. They were slums for people who couldn't afford proper housing the time.
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The New Deal
A corporation that was created for the people was called Civilian Conservation Corp. also known as the CCC. They employed thousands of young men. PWA or Public Work Administration allowed price and production limits. This corporation also helped the people because it controlled the price of a single item. The Keynesian Economics is an economic theory of total spending in the economy and its effects on output and inflation.
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