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

crash

banks were quick to make loans

people were buying stocks then flipping them quickly to make a quick buck

people started selling all at once making the market bottom out

the crash had a ripple effect on the economy

For the poor

the poor could already afford little

unemployment rose.

productivity and unemployment

1924-1927 productivity capacity doubled because of technological innovation.

people were not being hired because machines were making the products.

uneven distribution of wealth

.1% people are very wealthy. 42% people are very poor. 58% are "middle class" people. they have jobs, but depend on their paychecks to get them through.

President Hoovers Reponse

didnt believe that the government should play an active role in the economy

he persuaded bankers and business to follow Voluntary Non- Coercive Cooperation

He organized some private relief agencies for the unemployment

he had European countries purchase american goods instead of paying war debt and reparations payments

Tariff wars

democrats in congress passed a high tariff to protect U.S industry

in retaliation other countries passed high tariffs and no foreign markets purchased American goods.

The New Deal

FDR Created "the New Deal"

it was a revolution in American Society

Phase 1