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THE GREAT DEPRESSION: causes and effects

THE GREAT DEPRESSION: causes and effects. DOUG STANWIENS BOISE HIGH SCHOOL FOR THE IDAHO ACADEMIC DECATHLON. THE GREAT DEPRESSION: 1929-1939. Dorthea Lange’s Migrant Mother and Bread Line. THE GREAT DEPRESSION. There were numerous causes of the Great Depression

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THE GREAT DEPRESSION: causes and effects

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  1. THE GREAT DEPRESSION: causes and effects DOUG STANWIENS BOISE HIGH SCHOOL FOR THE IDAHO ACADEMIC DECATHLON

  2. THE GREAT DEPRESSION: 1929-1939 Dorthea Lange’s Migrant Mother and Bread Line

  3. THE GREAT DEPRESSION • There were numerous causes of the Great Depression • Unemployment was the most “visible” symptom • The Works Progress Administration (WPA) was an attempt to solve unemployment • Idaho received direct assistance from the WPA

  4. CAUSES OF THE GD hoW DO WE KNOW IF WE’RE IN AN Economic “depression”? EVERYTHING GOES DOWN!

  5. Gross Domestic Product

  6. Dow Jones Industrial Avg

  7. Farm Prices (Deflation)

  8. Ok, Unemployment Rate goes up!

  9. So What Is a “Recession/Depression?” • Recession is defined as 2 consecutive quarters (6 months) of falling GDP • Some prefer an increase in the Unemployment rate of 1.5% or more • A Depression is a drop in GDP of over 10% or • A two year recession • In the 19th century, Americans called these “economic panics” • President Hoover didn’t like “panic” so he used “depression”

  10. So What Caused the Great Depression? Check with your neighbor……… Did you say “The stock market crash”?

  11. So What Caused the Great Depression? Bank Failures? Int’l Debt Crisis? Stock Market Crash of ‘29-’33? Smoot-Hawley Tariff? Declining Money Base? Asset Bubbles? Farm Crisis? Lack of Industrial Diversification? Maldistribution Of Income?

  12. Int’l Debt Crisis: Check out this mess! Repay WWI loans Britain/ France American Banks Deposits at U.S. banks WWI Reparations Loans to Germany for reparations Germany

  13. Yikes! Does it matter WHAT causedthe GD? • The causes determine the solutions/fixes • Post Depression economics has been organized based on 2 different theories about the causes: • Keynsian Theory focuses on under consumption • Monetarist Theory focuses on monetary contraction

  14. We Know the Effect of the Great Depression The Depression's impact on the economy Historical Statistics of the United States, pp. 235, 263, 1001, and 1007.

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