The Great Depression and the New Deal, 1929-1939

The Great Depression and the New Deal, 1929-1939 - The...

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The Great Depression and the New Deal, 1929-1939 Causes and Effects of the Depression, 1929-1933 1. Wall Street Crash a. Stock prices had kept going up and up for 18 onths and major stocks had reached an all-time high b. Black Thursday and Black Tuesday i. There was an unprecedented volume of selling on Wall Street, and stock prices plunged ii. Bankers bought up this stock to try to save the economy iii. The selling frenzy resumed on Monday iv. From that day on prices kept going down 2. Causes of the Crash a. Uneven Distribution of Income i. Wages had risen relatively little compared to the large increases in productivity and corporate profits b. Stock Market Speculation i. Many peple in all economic classes believed that they could get rich “playing the market” ii. c. Excessive Use of Credit d. Overproduction of Consumer Goods e. Weak Farm Economy f. Government Policies i. Government had complete faith in businesses and did little to regulate them g. Global Economic Problems i.
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