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02 THE CRISIS OF 1929 AND THE GREAT DEPRESSION - Coggle Diagram
02 THE CRISIS OF 1929 AND THE GREAT DEPRESSION
AN ABRUPT END TO PROSPERITY
Massive financial growth
Boom in the US economy
Invested on the stock market
They hoped to get rich
By buying and reselling
Continually rising in value
There was a increase in credit operations
The result of the intense speculation
New York Stock Exchange
Indicator of worlds economy-> was overvalued
Financial bubble grew quickly
On 24 and 29 October 1929
Share price fell sharply
Panic spread
Investors sold shares at lower prices
Wanted to get rid of shares dropping in value
Crash of the New York Stock Exchange
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Companies lost value/capital
Saver saw their money disappear -> unpayeble debts
Banks went bankrupt
Companies had to close -> fire their workers
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Economic crisis around the world
Many countries depended on US
Know as
Great Depression
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Consumption dell dramatically
There was less business activity
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MEASURES TO OVERCOME THE GREAT DEPRESSION
Great depression affected industrialised countries
Most affected ->
US, Great Britain, Austria and Germany
Countries that exported also suffered
Their products didn't have same power
Most affected ->
Brazil, Argentina, Chile, India, Malaysia and Australia
Trade agreements between countries were made
Each country carried out solutions
Based on
economic nationalism
and
state intervention
Both used by
United States
President Roosevelt proposed a shock plan
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Great Britain
Had 3 million unemployed workers
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FRANKLIN D. ROOSEVELT (1882–1945)
President of the USA that won the elections four times
Led the country from 1932 to 1944
