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
AN ABRUPT END TO PROSPERITY
Roaring Twenties
US economy based on massive financial growth
Speculative operations on the stock market
Increase in credit operations without sufficient repayment guarantees
Financial bubble & crash
NYSE overvalued
Black Thursday & Tuesday
Panic & selling of shares
Panic & selling of shares
Companies lost value & capital
Effects of the economic crisis
Banks bankrupt
Companies had to close down & fire workers
Industrial production declined
Global repercussions & Great Depression
Increase in unemployment & poverty
Almost all social classes affected
Unemployed workers did not receive benefits
MEASURES TO OVERCOME THE GREAT DEPRESSION
especially affected industrialised countries
Countries and colonies that exported raw materials also suffered
economic nationalism and state intervention in the economy
the United States
‘New Deal’, to revive the econom
Proposed by President Roosevelt
Great Britain
state did not intervene in the economy and restricted itself to devaluing the pound by 25%
free trade
protectionism
