Great Depression

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Great Depression by Mind Map: Great Depression

1. Stock Market Crash

1.1. Stock Speculation

1.1.1. people would buy and sell stocks quickly to make a quick buck

1.2. Buying on the Margin

1.2.1. Paying only ten percent for stocks

1.3. Manic Selling

1.3.1. Everyone tried to sell out at the same time, and it all fell through.

1.4. Ripple Effect

1.4.1. Effected everyone, of every class

1.5. Economic Cycle

1.6. Tues. Oct. 29th, 1929

2. Unemployment

2.1. Overproduction

2.1.1. Too much of a product, with not enough people to buy it.

2.2. Hoover Moratorium

2.2.1. put a temporary stop to war debt & reparations payments

2.3. Tariff Wars

2.3.1. Government passed a high tariff to get countries to buy from the US.

2.4. Global Economy

2.4.1. in retaliation other countries passed high tariffs and no foreign markets purchased American goods, so U.S. productivity decreased again

3. The New Deal

3.1. Banking Holiday

3.1.1. Banks were shut down and inspected. People regained confidence in their banks

3.2. Gold Standard

3.2.1. Government could print more money than the gold reserves would allow.

4. Acts

4.1. Social Security Act

4.1.1. unemployment insurance, old age pensions

4.1.2. Took money out of circulation

4.1.3. Only helped the unemployed

4.2. Agricultural Adjustment Act

4.2.1. passed in 1933 to aid formers- its objective was to restore farmers' purchasing power and to restore the family farm food production down when millions were starving Black sharecroppers were hurt: white landowners paid not to farm so they got rid of Black tenant formers

4.2.2. in 1935, AAA was declared unconstitutional by courts (too much control over individual states), so it was revised and introduced as new legislation

4.3. Food Stamp Act of 1939

4.3.1. gave away surplus food to poor, also guaranteed (small) farmers a market

4.4. Federal Emergency Relief Act

4.4.1. aimed at older workers

4.5. National Labor Relations Act

4.5.1. it legitimized unions and labour tactics such as collective bargaining & collective action

4.5.2. Outlawed blacklists