The Great Depression

The Crash of 1929

• 1: October 24, 1929 is known as Black Thursday
• 1: The stock market crashed, starting the Great Depression.
• 2:Businesses closed their doors

Families

• Many people lost their jobs and the people that still had jobs had a very low income.
• Unemployment rate was 25%, at highest, during the great depression.
• Shantytowns comprise of poor people living in improvised residences which are made from scrap materials
• often corrugated metal, plywood and sheets of plastic. It is a slum settlement also known as a squatter settlement.

The New Deal

• 1:
• They change the way the economy worked and 
• added half a billion dollars to the economy

Keynesian economics was used to refer to the concept that optimal economic performance could be achieved – and economic slumps prevented – by influencing aggregate demand through activist stabilization and economic intervention policies by the government. Keynesian economics is considered to be a “demand-side” theory that focuses on changes in the economy over the short run.