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Postwar Prosperity Crumbles

Postwar Prosperity Crumbles. Economic Troubles – Farmers. Most European farmland was destroyed during WWI After WWI, demand for certain crops fell causing prices to drop Farmers made little money, leading to problems paying off debt. Economic Troubles - Protectionism.

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Postwar Prosperity Crumbles

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  1. Postwar Prosperity Crumbles

  2. Economic Troubles – Farmers • Most European farmland was destroyed during WWI • After WWI, demand for certain crops fell causing prices to drop • Farmers made little money, leading to problems paying off debt

  3. Economic Troubles - Protectionism • Occurred when nations protected industries by limiting trade w/ others (usually done w/ tariffs) • Europeans burrowed money to buy American goods

  4. Speculation and Panic • 1920s: Investors made large profits believing stock would keep rising • 10/29/1929: Black Tuesday

  5. Black Tuesday • Stocks became worthless • Banks ran out of money • Many businesses filed bankruptcy

  6. Great Depression • 1932: 30 million workers were unemployed • Prices dropped, but people could not afford to buy goods

  7. The New Deal • 1932: Franklin D. Roosevelt was elected U.S. president • The New Deal: designed to create jobs • Hired construction workers for buildings, roads, and other projects

  8. Social Security Act (1935) • Provided for unemployment and old age benefits

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