GREAT DEPRESSION

CRASH OF 1929

• The Wall Street stock market crashed
• Most devastating crash in US history
• Triggered the Great Depression
• Slowed down business growth

FAMILIES

• Unemployment rates reached 25%
• >11 million people were unemployed
• Wages decreased greatly
• Shantytowns: places with unemployed people
• who were taken from their homes.

THE NEW DEAL- PROGRAMS

• Federal help for people who lost their jobs, homes and savings
• Job creation through massive service project
• Agricultural and manufacturing assistance for farmers and industries
• Stricter banking regulations
• Creation of the FDIC to protect bank savings

KEYNESIAN ECONOMICS

• Used increased government expenditures
• and lowered taxes to stimulate demand