THE GREAT DEPRESSION

CRASH OF 1929

• The crash of 1929 was the worst stock market crash in US history
• Banks were closed and many people lost their money
• High unemployment rates & world-wide depression
• Collapse of prices in world trade
• Businesses lost substantial amounts of money and profit.

FAMILIES

• To increase profit many workforces decreased wages and layed off many people.
• Unemployment rate rose to 25%
• Many women were forced to work as teachers, nursing etc.
• Men often took care of the home and children.
• Poor health, starvation, and many became homeless.

Shantytowns:
Shantytowns were slum settlements that consisted of scraps of metal, plastic, and plywood, and cardboard boxes. They were usually found in periphery cities near railroads, rivers or trash dump sites.

The New Deal
The Works Progress Administration program was created to provide jobs for people that were unemployed. National Labor a Relations Act and Board was created to promote labor unions and prevent businesses from treating their workers unfairly. The Farm Security Administration was put in place to improve the lives of farmers, tenants, etc.

Keynesian Economics
Keynesian economics was an economic theory developed by John Maynard Keynes. It lowered taxes and increased global expenditures, to stimulate demand and get the country out of depression. It was considered to change the economy over a short-run.