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The Great Depression by Mind Map: The Great Depression
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The Great Depression

STOCK MARKET

Public buys & sells for $

Prices Increase

Inflation on Companies Stock Value

Panic Selling = All companies try to sell out at the same time

PRODUCTIVITY & UNEMPLOYMENT

No gov. assistance @ first

People can't buy so productivity decreases

High employment at first because of demand of goods

Later on, demand decreased so there was too many goods "OVERPRODUCTION"

UNEVEN DISTRIBUTION OF WEALTH

42% Below Poverty Line

New node

%8% above; Middle class depended on salary so when productivity declined they lost their jobs; ruined country

PRESIDENT HOOVER

VOLUNTARY NON - COERCIVE COOPERATION

Gave tax breaks to banks/businesses in return for private sector economic investments

HOOVER MORATORIUM

Temp. stop to war debt & reparations that Europe owes

Instead, Buy our goods so our factories can keep producing and employment can increase again

Not popular with the American People

Would not Gov. assist individuls

GLOBAL PROBLEMS

Democrats in Congress passed tariffs (taxes)

Other countries passed high tariffs because their economies were bad, therefore, no one bought American goods

Germans borrowed from Austrians and US

All banks started going bankrupt because no one could pay back their loans

PUBLIC PROTESTS

Dairy Farmers hate low price of milk so they don't sell it

WWI Veterans' pensions stopped by congress so they march at Washington "BONUS MARCH"

1931 set up housing "HOOVERVILES", food scraps "HOOVER-MEALS", hitchhiking journies "HOOVER RIDES", New node

1932 ELECTION

1 out of 4 people were unemployed

national income was half of what it was in 1929

Republicans wanted Hoover to have 2 term- that wasn't going to happen

FDR won! democrat from NY