The Great Depression

CRASH OF 1929

• October 24th, 1929: Black Thursday
• Stock Prices Dropped
• Investors Lost Life Savings
• Signaled beginning of the 10-year Great Depression that affected all Western industrialized countries
• The "Crash" affected business because lenders called in loans which forced investors to keep selling

FAMILIES

• People loss their jobs, wages went down, high rates of unemployment, highest 24.9%
• Millions struggled for food, clothing, and shelter/Marriage and birthrates declined, suicide increased
• Intensified social divisions and class hatreds
• Shantytowns are towns or sections of a town or city comprised by very poor people living in shanties
• Have high rates of crime, suicide, drug use, disease

The New deAl

• Farm Programs
• Resettlement Administration (RA)
• Rural Electrification Administration (REA)
• National Youth Administration (NYA)
• Civilian Conservation Corps (CCC)

The new deal

• Public Works Programs
• Public Works Administration (PWA)
• Major program of public works, which provided funds for the building of useful works such as schools

The New Deal

• Keynesian Economics
• Developed by British economist John Keynes
• Economic theory of total spending in the economy and its effects on output and inflation