THE GREAT DEPRESSION

CRASH OF 1929

• October 24th, 1929
• Panic selling of NY stock market
• Stock prices plummeted leaving thousands penniless
• Businesses cutback production
• Caused decrease in business, wages, employment

FAMILIES

• 1933: 30 million unemployed
• Shantytowns appeared in urban areas
• Settlements of plywood, plastic, and cardboard
• Both men and women lost their jobs
• Women were restricted to household duties

THE NEW DEAL

• John Maynard Keynes tackled problem of inadequate demand
• Millions willing to work were unemployed
• Encouraged gov't to increase money supply and undertake public works projects
• Franklin D Roosevelt revised legislation to provide jobs and farm subsidies
• Economic and social reform called the New Deal