PRESENTATION OUTLINE
Crash of 1929
The Crash of 1929 was the biggest stock market crash in history and led to the 10 year Great Depression. Stock prices plummeted and millions of people sold their stocks. The Crash affected businesses because many people began to sell their stocks in businesses for cheap prices, and the businesses' stocks lost lots of value.
Families
During the first three years of the Depression, an average of 100,000 workers were fired every week. By the end of 1932 approximately 13 million Americans (25% of the workforce) were unemployed, with millions more working shortened hours or for reduced wages. Shantytowns were communities of people lived out of cardboard boxes or other make shift homes.
The New Deal
Roosevelt created the Works Progress Administration to provide jobs for unemployed people. WPA projects weren’t allowed to compete with private industry, so they focused on building things like post offices, bridges, schools, highways and parks. The WPA also gave work to artists, writers, theater directors, and musicians.
Keynesian Economics is the theory that you must keep putting money into the economy in order for the economy to be successful. So, lowering workers' wages will not help the economy.
