THE GREAT DEPRESSION

OCTOBER 24TH 1929

• The largest stock market crash in history
• Businesses lost money and many went out of business
• This lead to the 10 year Great Depression
• Whole companies began to vanish due to this loss

FAMILIES

• Wages went down extremely since the executives had no money to pay
• The unemployment rate jumped to 25 percent
• Shantytown(shacks) were composed of low class society

THE NEW DEAL

• Public works administrations was put in to place to create jobs
• The PWA created new programs to increase employment rate

Keynesian Economics

• in the short run the economy is based upon total spending
• Focuses on overview in a short period of time
• Helps to boost economy
• People must spend money to get out of recession