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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
Roaring Twenties
massive financial growth
families invested on stock market
hopes to became rich
increase in credit operations
without sufficient repayment guarantees
New York Stock Exchange
was overvalued
The Wall Street Crash
on 24 and 25 October 1929
share price fell shatply
panic across United States
investors sold shares much lower price
this led to
crash of New York Stock Exchange
end of the period of prosperity
companies lost value
money disappear, transformed into debts
bank went bankrupt
companies no credit
companies closed down
fire workers
industrial production declined
Great Depression
repercussions felt around world
countries depended US loans were cancelled
worst crisis capitalist system
Measures to overcome the Great Depression
most affected countries
industrial countries
were
Germany
Austria
Great Britain
similar consewuences to US
colonies
exported raw material
suffered effects
buying countries
didn't have same purchasing power
solutions and measures
some joint measures
trade agreements between countries
each country their solutions
based in
state intervention
economic nationalism
United States
New Deal
1933
proposed by president Roosevelt
shock plan to revive economy
proposed state intervention
promotion of public works
subsidies for firms
control of banking
more social welfare
Great Britain
state did not intervene in economy
devaluing the pound by 25%
favorated exports, invigorated domestic market
