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Unit 7 Graphic Organizer #1: SS8H8abc-The Great Depression

Unit 7 Graphic Organizer #1: SS8H8abc-The Great Depression. Natural Causes :. Great Depression :. Politicians. When was it? During the Great Depression what happened to… Demand ? It decreased Profits ? They decreased Unemployment ? It increased

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Unit 7 Graphic Organizer #1: SS8H8abc-The Great Depression

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  1. Unit 7 Graphic Organizer #1: SS8H8abc-The Great Depression Natural Causes: Great Depression: Politicians When was it? During the Great Depression what happened to… Demand? It decreased Profits? They decreased Unemployment? It increased Causes of the Depression: 1. Surplus Goods/Ag. Products --U.S. overproduced during WWI --supply & demand relationship 2. Questionable Banking Practices -- credit given to all, bank failures 3. Stock market Speculation/Crash -- buy stock, sell for higher, crash revealed the problem & made worse 4. Wealth Divide -- U.S. on gold standard, some hoarded money causing supply problems 5. Lassiez-Faire Approach -- “Hands off,” Gov’t doesn’t interfere • Boll Weevil • insect : larvae feeds on cotton • most Georgians were farmers • spread from Mexico across U.S. • farmers diversified to avoid impact • Drought • huge problem in 1920’s/1930’s • nationwide • caused the Dust Bowl • 1924-1927, 1930-1935 • Herbert Hoover • President when depression began • Economic Approach: • “Hands Off,” Lassiez-Faire • Hoovervilles: during depression, people built shanty towns and blamed it on him • Eugene Talmadge • GA politician 1926-1946 • Wild man from Sugar Creek • What he Promised: • 1. help farmers • 2. reduce utility rates • 3. cut spending/balance budget • believed in Lassiez-Faire economics • disagreed with FDR’s New Deal Effects: (Cotton) Overproduction during WWI combined with the boll weevil and drought caused… a decline in cotton production during the 1920’s

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