the great depression occurred from 1929 to 1941. it was a severe economic downturn, and millions of...
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The Great Depression occurred from 1929 to 1941. It was a severe economic downturn, and millions of people were unemployed. It was caused by several factors, including the stock market crash of 1929.
FOCUS
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Longest economic depression in U.S. history
Eventually, the government took a more active role in the economy
The depression did not end until the U.S. entered World War II in 1941.
THE GREAT DEPRESSION 1929-1941OVERVIEW
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The immediate cause of the Great Depression was the stock market crash in October 1929
CAUSES OF THE GREAT DEPRESSION
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Why did the stock market crash?
1. Over-speculation of stocks
People invested in the stock market because it was making a lot of money
Stock prices were higher than their actual worth
CAUSES OF THE GREAT DEPRESSION
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2. Buying stocks on margin
Lack of regulation allowed people to buy stock on margin
Paid for a small % of the stock, then took out a loan for the rest
When the market crashed, loans were not paid off
CAUSES OF THE GREAT DEPRESSION
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1. What was the immediate cause of the Great Depression in 1929?
2. Discuss two other causes of the Great Depression.
DO NOW
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Other causes of the Great Depression:
1. High tariffs led to little international trade
2. High disparity between the rich and poor
CAUSES OF THE GREAT DEPRESSION
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3. Overproduction of consumer and agricultural goods
As prices fell, farmers kept producing more to try to keep their revenues up
As a result, prices fell further
Farmers experienced the problems of the Great Depression before the rest of the country
CAUSES OF THE GREAT DEPRESSION
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4. The Dust Bowl
overproduction and overuse of land led to the destruction of crops
The Dust Bowl spread over much of the Great Plains
CAUSES OF THE GREAT DEPRESSION
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THE DUST BOWL
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THE DUST BOWL
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Many farmers went west to California to work as migrant farmers
They became known as Okies and were often unwelcome in California
THE DUST BOWL
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The Great Depression led to massive unemployment throughout the United States
At its height, 25% of Americans were unemployed
Many more were underemployed
THE GREAT DEPRESSION