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THE CRISIS OF 1929 AND THE GREAT DEPRESSION, image, image, image, image,…
THE CRISIS OF 1929 AND THE GREAT DEPRESSION
AN ABRUPT END TO PROSPERITY
during the Roaring Twenties
boom in US economy
massive financial growth
investing savings of middle-class families
hoped to get rich in a short time
buying and reselling stocks that constantly rised
increase in credit operations
intense speculation
New York Stock Exchange
main indicator of the world economy, overvalued
financial bubble grew and wuickly burst
Black Thursday and Tuesday, share price fell
Crash of the NY Stock Exchange
investors sold huge amounts of shares lower pices
companies lost their value
unpayable debts, most banks went bankrupt
industrial poduction declined in a short time
end of the period of prosperity
respercussions of the economic crisis around the world
countries depended on US
Great Depression, worst crisis ever seen
increase in unemployment
millions of people with no work
MEASURES TO OVERCOME THE GREAT DEPRESSION
Great Britain, Austria and Germany
especially affected industrialised countries
similar consequences to US
countries that exported raw materials also suffered
trade agreements between countries
based on nationalism and state intervention
US
Roosevelt proposed a shock plan
New Deal to revive the economy
promotion of public works
GB
than 3M unemployed
state didn't intervene
pound lost value and favoured exports
free trade
protectionism
