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26/12 2020

great depression causes quizlet

A formative time in 20th century America, it came about after the riotous exuberance of the roaring twenties and lasted nearly a decade. Back to History for Kids Causes Of The Great Depression Quizlet : Florida Divorce Public Records Database. - During the Depression the public sentiment against banks and financial institutions was strong because financial losses caused people to lose their homes and farms. At this time the US was overdependent on its production industries, including automobiles and ship building docks. The Great Depression was synchronized and comprehensive and affected all the […] However, the crash was one of the major causes of the Depression, and 2 months after the crash, it is estimated that stockholders lost more than $40 billion dollars. The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.The timing of the Great Depression varied across the world; in most countries, it started in 1929 and lasted until the late 1930s. This shifts our attention away from the chain of events leading to the market crash in 1929, and to the larger weaknesses in the interwar economy which not only brought on - Americans escaped the hardships of the Depression by going to the movies and listening to radio broadcasts. Causes of The Great Depression *The Dust Bowl: the region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by drought and dust storms during the 1930s* #2 Failure of Banks *Throughout the 1930s over 9,000 banks failed Since the 20s was a period of great economic boom, not many people took the future into consideration. The Depression may occupy space in history books and is certainly a part of standardized curriculum in contemporary history classes, but it is still simply “history” to many. Created an unnatural demand for goods and eventual overproduction iii. - Many people believe that the stock market crash on October 29, 1929 is the same as the Great Depression. - Walt Disney produced the first feature-length animated film, snow white and the Seven Dwarfs, 1937. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of the Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. and consequences of the Great Depression. The Depression's causes have been a longtime subject of debate by historians and economists, though there seems to be a consensus that the economic disaster was the result of multiple factors — some of which led to the event, while others worsened or prolonged it. 2. Why did the Great Depression happen, and could it ever happen again? This lesson covers the following objectives: - When settlers came to the area, they built farms and planted crops. The New Deal worked. During the 1920s the U.S. stock market underwent a historic expansion. The Depression affected politics by shaking confidence in unfettered capitalism.That type of laissez-faire economics is what President Herbert Hoover advocated, and it had failed.. As a result, people voted for Franklin Roosevelt.His Keynesian economics promised that government spending would end the Depression. Four factors played roles of varying importance. The Great Depression was the worst economic downturn in world history. The Great Depression was a worldwide economic depression that lasted 10 years. spending, consumer spending, business spending (up spending, up employment- down spending, down employment), enhanced government role in Americans lives, Americans right to economic safety, right to a job, adequate wages, decent home, medical care, good education, margin buying contributes to stock speculation+collapse of stock market, w/ margin buying people can invest more than they have by borrowing money (most don't have money to back it up), are speculating the market will go up as it has been, when things go downhill, people become in debt, are over-leverged themselves and are in debt, closed all banks, banks examined to make sure they were okay to reopen, Federal Depository Insurance Corp. (FDIC)/Glass-Steagall Banking Act, FDIC= insurance for your saving (250,000), GSA= separated commercial banks and investment banks, goal to reduce crop surplus to increase prices, farmers paid a subsidy to plant less, economic development in Tennessee Valley flood control electrification farmer education, unmarried men 17-23, unskilled manual labor- conservation jobs paid $30-->$5 worker, $25 family. Problem arose when consumer credit was exhausted 4. Because of these unspeakable traumas, the Great Depression and its causes have remained at the forefront of economic study and debate. In “Their Great Depression and Ours” James Livingston cites Milton Friedman and Anna Jacobson Schwartz’s seminal book A Monetary History of the United States 1867-1960published in 1963 as stating the underlying cause of Great Depression “was not the stock market crash but a ‘great contraction’ of credit due to an epidemic of bank failures.” Others argued that banks got out of control a… Republican Policies: (Presidents- Harding, Coolidge & Although the 1920s appeared on the surface to be a prosperous time, income was unevenly distributed. At the height of the Depression, one of every four workers was out of a job. Causes of the Great Depression (Worst in U.S. History) a. Please note that this website was written by Jennifer Croft, who also wrote: –a site for a consultant who trains HR people on StrengthsFinders –a site for cabinet painters in Denver, Colorado –a site for dentists in Mesa, Arizona who specialize in sedation dentistry –a site for dentists in Denver, Colorado who offer sedation overproduction, crisis in farming, rising gap in rich and poor, stock market, stock market triggers banking crisis, federal reserve, hawley-smott tariff, reduced demand on same supply, foreclosing on farms and down on the farmers, leads to speculation which results in bear market, people borrow money for stocks and stock prices lower in the process, thus people lose money, rate federal reserve charges banks to borrow money, banks setting interest based on discount rate ---> made discount rate higher, kept money out of economy---> hurts growth of economy, focusing on domestic issues, prosperity at home, lower taxes, lower federal spending, focus on US not world affairs, rural, courtship, censorship, dry, creationism, increased spending on public works (keynesian economics), raise taxes (social welfare programs), government aid to business, replace capitalism with socialism (communism), employment goes to total spending goes to gov. 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