The Great Depression

Guide Note

The Great Depression was the worst economic disaster in United States history, and had world wide effects. It began with the U.S. stock market crash of 1929 and continued for over 10 years.

The economy during the 1930s was not a direct collapse after Black Tuesday, as is frequently assumed. The stock market continued to fluctuate in the months after October 1929, but falling commodity prices and higher unemployment caused a nation-wide distrust in the economy, and the economies of most western nations were in serious decline by 1931.

Fast Facts

  1. Black Tuesday: October 29, 1929
  2. Began in 1929 and lasted until 1939
  3. One of the greatest economic disasters in history
  4. 16 million labor workers were unemployed
  5. Economic production declined nearly 50%
  6. Stocks dropped to 20% of their value
  7. The board game Monopoly was created during this time

Instigation and Ramifications

1930 saw a sharp decline in international trade because of the Smoot-Hawley Tariff. American exports declined by over $3 billion in just four years and farmers could no longer make good on their loans, causing mass debt.

Many American neighborhoods became shanty towns, known as Hoovervilles. Around the world, economic hardships helped lead to the rise of fascism in Europe and Latin America.

The New Deal and World War II

President Franklin D. Roosevelt enacted a series of initiatives in the mid-1930s intended to aid the United States economy. There is widespread debate about the usefulness of these programs in instigating recovery, though many policies affected U.S. History for decades to come, including the Works Progress Administration and social security.

In 1939, the U.S. engaged in heavily increased military spending and production to help stop the spread of fascism. World War II is heavily cited as the event that sparked a full economic recovery.

The Mahalo Top 7

  1. Wikipedia: The Great Depression I Great Depression in the United States
  2. Yahoo! Education: The Great Depression
  3. A Biography of America: FDR and The Depression
  4. YouTube: Scenes From The Great Depression (Time: 2:29)
  5. PBS: The American Experience: The Great Depression
  6. About.com: Photographs of the Great Depression  WARNING: Pop-ups
  7. WikiBooks: The Great Depression Timeline 1929-1932

The Great Depression Background and Causes

The Great Depression Historical Figures

Franklin D. Roosevelt

Herbert Hoover

The Great Depression Programs & Acts

The New Deal

National Industrial Recovery Act (NIRA)

National Recovery Administration (NRA)

Social Security Act (SSA)

Securities and Exchange Commission (SEC)

Federal Emergency Relief Administration (FERA)

Civilian Conservation Corps (CCC)

Public Works Administration (PWA)

Works Progress Administration (WPA)

Emergency Banking Relief Act

Gold Reserve Act

Resettlement Administration (RA)

Farm Security Administration (FSA)

Agricultural Adjustment Act (AAA)

National Labor Relations Act (Wagner Act)

Federal Deposit Insurance Corporation (FDIC)

Rural Electrification Administration (REA)

Tennessee Valley Authority (TVA)

Civilian Works Administration (CWA)

National Youth Administration (NYA)

Securities Act of 1933

Fair Labor Standards Act

The Great Depression Images and Media

The Great Depression Books and DVDs

The Great Depression Timeline

Related Searches

Black Tuesday | Black Thursday | Economics | Wall Street | The New Deal | United States Government | The Stock Market | World War I | World War II | Dow Jones | Franklin D. Roosevelt | Labor Unions | Herbert Hoover | Wall Street | Minimum Wage | United States Housing Authority | Federal Reserve | SEC