Please enable JavaScript.
Coggle requires JavaScript to display documents.
02 THE CRISIS OF 1929 AND THE GREAT DEPRESSION, image, image, image, image…
02 THE CRISIS OF 1929 AND THE GREAT DEPRESSION
1 AN ABRUPT END TO PROSPERITY
This led to the crash of the New York Stock Exchange
many companies close down and fire their workers.This was the end of the period of prosperity
Their priority get rid of shares which were dropping in value
generalisation of the crisis is known as the Great Depression
much of the boom in the US economy based on massive financial growth
DOROTHEA LANGE (1895–1965)
American photographer and photojournalist, whose photographs greatly influenced the development of documentary photography and humanised the consequences of this period.
2 MEASURES TO OVERCOME THE GREAT DEPRESSION
each country carried out the solutions it considered most appropriate
were based on economic nationalism and state intervention
Countries and colonies that exported raw materials also suffered the effects
United States, in 1933, President Roosevelt proposed a shock plan,‘New Deal’
Europe, the most affected countries were Great Britain, Austria and Germany,
Great Britain did not intervene in the economy and restricted itself to devaluing the pound by 25%
Great Depression especially affected industrialised countries
change from the traditional British free trade policy to protectionism
FRANKLIN D. ROOSEVELT (1882–1945)
president of the USA from 1932 to 1944
JOHN MAYNARD KEYNES (1883-1946)
He defended state intervention in the economy to protect workers from the negative effects of crises.
