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The crisis of 1929 and the great depression, image, image, image - Coggle…
The crisis of 1929 and the great depression
Measures to overcome the great depression
In Europe, the most affected countries were Great Britain, Austria and Germany.
which suffered consequences similar to those endured by the US economy
each country carried out the solutions
They were in generaly based on economic nationalism and state intervention
In US
In 1933, Roosevelt proposed the 'New Deal' plan to revive the economy.
In Great Britain
State didn't intervene
An abrupt end to prosperity
The US economy was based on massive financial growth.
Company profits and the savings of many middle-class families were invested in unprecedented speculative operations on the stock market.
On 24 and 29 October 1929, Black Thursday and Tuesday, the share price fell.
Their priority was to get rid of shares which were dropping in value.
This led to the crash of the New York Stock Exchange.
Companies lost their value and their capital
Most banks were bankrupt
Many companies had to close down and fire workers
This was the end of the period of prosperity
Many countries depended on US loans that were cancelled as a result of the crisis and its effects.
This generalisation of the crisis is known as the Great Depression.
