Causes of the great depression
What highlighted the start of the Great Depression?
The Stock Market Crash of 1929
What was a hooverville?
Hoovervilles were makeshift shantytowns built by homeless people during the Great Depression, named after President Herbert Hoover, reflecting widespread poverty and dissatisfaction with his administration's response to the economic crisis.
What ended the great depression?
The Great Depression ended largely due to the economic stimulus provided by World War II, which created massive government spending, increased industrial production, and created millions of jobs.
How did the decline in industrial production add to the cause of the great depression?
The decrease in industrial production during the Great Depression made the economy worse by causing job losses, lower incomes, and less spending.
What was the bonus army?
The Bonus Army was a group of World War I veterans who marched on Washington, D.C. in 1932 during the great depression, to demand early payment of a bonus promised to them for their military service.
What did FDR's campaign promise?
His campaign promised relief, recovery, and reform, ultimately leading to significant government intervention in the economy
How did banking failure contribute to the Great Depression
Bank failures in the Great Depression caused panic among people, leading to closed banks, less spending, economic chaos, and worsened financial problems because the government didn't react well.
What was the result of mass unemployment?
Mass unemployment during the Great Depression led to widespread economic hardship, social unrest, and significant political and policy changes worldwide.
What was the importance of FDR's election?
FDR's election was important because it highlighted a new era of leadership and policies in response to the Great Depression, as his New Deal programs aimed to relieve economic suffering and reshape the role of government in society, in term providing hope and stability to a nation in crisis.
How did overproduction and underconsumption add to the great depression?
Overproduction and Underconsumption led to many goods being produced and little being bought, causing prices to fall, businesses to struggle, and the economy to collapse.
What was the effect of communism during the great depression
Many people turned to communism during the Great Depression because they thought state-controlled economies could fix the problems caused by capitalism and the economic suffering they experienced.
Why were the five new deals crucial for?
The New Deal programs, such as the CCC, TVA, WPA, Social Security Act, and NLRA, were vital for providing jobs, relief, infrastructure, social security, and labor rights, aiming to tackle poverty and unemployment during the Great Depression while changing how the government interacted with its people.
How did global economic factors cause the great depression?
Global economic factors worsened the Great Depression as Europe struggled after World War I, leading to debt issues with the United States, decreased trade, and the spread of economic hardships worldwide.
What was the result of the political radicalization from the great depression?
The Great Depression prompted the rise of authoritarian regimes, increased government intervention in economies, and provided support for socialist ideologies, while also strengthening labor movements and reshaping global power dynamics.
What was the goal of the first and second new deal?
The New Deal was a series of government programs and policies enacted by President Franklin D. Roosevelt in the 1930s to address the economic challenges of the Great Depression, aiming to provide relief, recovery, and reform through initiatives like job creation, financial regulation, and social welfare measures.