the Great Depression
Published on Nov 18, 2015
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the Great Depression
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1. the stock market plummeted then crashed. sending the US into the the Great Depression .
2.Before 1929 ended, banks all over the country were closing their doors. Business everywhere cut back production, and many concerns, finding themselves without customers, were forced out of business. Factories and mines were shut down. Empty railroad cars piled up on the sidings. By 1930 between 6 and 7 million Americans were unemployed. The result was a chain reaction. Unemployment meant fewer customers; a decrease in customers caused further cutbacks in production; these cutbacks, in turn, resulted in more unemployment. By 1932 nearly 12 million Americans were out of work.
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1. the wages were exponentially decreased because of inflation. unemployment rate was at 25% .
2. Shanty towns (also called squatter settlements camps or favelas) are settlements (sometimes illegal or unauthorized) of impoverished people who live in improvised dwellings made from scrap plywood, corrugated metal, and sheets of plastic. Shanty towns, which are usually built on the periphery of cities, often do not have proper sanitation, electricity, or telephone services.
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1. the new deal was put into order and was made to reconstruct America, and it supplied many jobs for Americans.
2. Keynesian economics is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand.
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