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3933107
Causes of the Great Depression
Description
Great Depression
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great depression
life
sad
Mind Map by
nehemiasvargas
, updated more than 1 year ago
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Created by
nehemiasvargas
about 9 years ago
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Resource summary
Causes of the Great Depression
Political Effects
FDR elected in 1932
New Deal programs increase govt. role in economy
Economic Effects
Deflation
Unemployment at 25%
Drop in production
Economic Cause
Agricultural overproduction made a lot of produce cheaper and not a lot of revenue
Widening gap between rich and poor
Stock market crash due to buying stock on margin
Political Causes
Hoover follows hands-off policy towards business
Few regulations in place over companies
Millions of people in the United States (and around the world) had no jobs
Countless people became homeless
Uneven Distribution of Wealth
Banking and Federal Reserve System Monetary Policies Failed to Support Failing Banks
9,000 banks closed their doors between 1930 and 1933
Businesses also lost money
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