The Great Depression

The great depression begins

• The Great Depression began in 1929
• Historians debate when it ends
• Some claim 1939 while others claim 1941

The United States

• Uneven distribution of wealth
• Factories/farmers produced more than people could afford
• Factories overproduced, and eventually fired workers

The United States

• People began buying stocks on credit
• Investors sensed trouble, and withdrew money
• Stock prices soared

The united states -  Stock Market

• The stock market seemed to be thriving
• In 1929, it reached its highest peak.
• However, a rapid decrease followed the rapid increase.

The Untied States October 29, 1929

a global DEPRESSION

• America's economy collapsed in an unsolvable panic 
• The banks shut down, and all of America suffered.
• The world suffered, too, as international trade declined.

Britain

• Britain's already weak economy crumpled
• Britain's democracy threatened to collapse

Germany

•  Economy struggled to comply with the Treaty of Versailles
• Money became so worthless that children began to play with it as a toy
• Citizens began bartering rather than purchasing needs with money

Germany

• Hyperinflation was the main cause of the depression in Germany

Prices soared

The rate of Unemployment

France

• France relied more on farming than foreign trade.
• Yet in 1935, France felt the economic struggle

Socialist countries

• Scandinavian Countries Had An Economic Downfall, as well.
• Scandinavian countries include Denmark, Norway, Sweden, & Finland

Means GlObal!!!

Other countries

• In 1931, Austria’s largest bank failed.
• The crash was felt heavily in Latin America as well.

How did they Solve it?

New deal

• Public works projects helped to provide jobs for the unemployed
• The New Deal reformed the American economic system

Britain Takes Steps to Improve Its Economy

• British voters elected a multiparty coalition called the National Government 
• By 1937, unemployment had been cut in half
• Still, Britain managed to preserve its democracy.

France Responds to Economic Crisis

• One million French workers were unemployed.
• Unemployment remained high.
• France preserved democratic government.

Socialist Governments Find Solutions

• They built  recovery programs on an existing tradition of community action
• Government sponsored massive public works projects
• In Germany, Hitler took advantage of Germany's poor economy to come to power

Governments

• After the Great Depression, some governments changed
• Others managed to survive and the economic collapse