3933107
Description
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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Causes of the Great Depression
- Political Effects
- FDR elected in 1932
- New Deal programs increase govt. role in economy
- FDR elected in 1932
- Economic Effects
- Deflation
- Unemployment at 25%
- Drop in production
- Deflation
- 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
- Agricultural overproduction made a lot of produce cheaper and not a lot of revenue
- Political Causes
- Hoover follows hands-off policy towards business
- Few regulations in place over companies
- Hoover follows hands-off policy towards business
- 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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