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1929-1945

The Great Depression. 1929-1945. Current Issues through World History. EQ: How did the decline in the worldwide economy lead to the rise of totalitarianism? GQ: What factors in the economy led to the events of The Great Depression?

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1929-1945

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  1. The Great Depression 1929-1945

  2. Current Issues through World History • EQ: How did the decline in the worldwide economy lead to the rise of totalitarianism? • GQ: What factors in the economy led to the events of The Great Depression? • SWBAT: Identify the causes of The Great Depression and contrast them with modern economic problems • Mission statement connections: A, C, & D

  3. October 24, 1929 • Stock exchange crisis • An unprecedented wave of sell orders shook the New York Stock Exchange • Stock prices tumbled • During the first three hours of trading stock values plunged by $11 billion

  4. October 29, 1929 • Black Tuesday • The stock market experienced the greatest crash in its history • The average price of a share of stock fell 12% • The reason for this was a convergence of economic problems of production, income, and credit • It also marked the beginning of the Great Depression, which destroyed the economy and left millions of Americans unemployed.

  5. The Great Depression • “Any lack of confidence in the economic future or the basic strength of business in the United States is foolish.” – US pres. Hoover • November 15, 1929

  6. 1930 • By 1930, more than 3.2 million people in the US were unemployed, up from 1.5 million before the Stock Market Crash of October 1929. • Worldwide, over 30 million people could not find jobs

  7. Protectionism • Economic Nationalism • Nations try to protect domestic industries by limiting trade with other nations • To protect their industries, nations establish tariffs on imported goods • Tariffs- taxes on goods made in other countries and brought into a country for sale How could this government policy make the situation in the global economy worse?

  8. June 17, 1930 • Smoot-Hawley Tariff Act • It raised tariffs on imports an average of 20 percent in order to protect American industry and farming. • The tariff prompted retaliation from foreign governments and created a ripple effect of global trade reduction.

  9. Worldwide News • In groups of 4-5 you will create a newspaper. • Your newspaper will include articles • It must include at least 3 articles from the perspective of the following: • A world leader • A wealthy business owner • A farmer • A typical worker • A professional athlete

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