Paragraph 2.4 - The Great Depression - 2024

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Paragraph 2.4 - The Great Depression 

At the end of the lesson you will know/be able to…

Black Thursday

• Wall Street (New York) : Financial heart of the Western world: here you can buy and sell stocks
• Stocks: You buy a part of a company
• Wall street crash of 1929 (Black Thursday): value of most stocks went down-> people quickly selling them -> market collapsed

What was the name given to October 24, 1929?

1. Black Thursday
2. Pizza Tuesday
3. Great Depression
4. Black Friday

What caused factories to go bankrupt?
Explain your answer

1. Increase in employee wages
2. Expansion of factory facilities
3. Decline in consumer spending
4. Rise in demand for products

What happens when people stop buying products?

1. Employment opportunities rapidly increase
2. Factories may face financial struggles
3. Prices of products become more stable
4. Production levels soar unexpectedly

What is the name given to

https://pointer.kro-ncrv.nl/cryptocrash-bracht-jonge-investeerders-in-problemen-praten-is-moeilijk

Poverty and unemployment

• The Great Depression lasted from 1929 until the late 1930's
• Millions of people worldwide lost their jobs and fell into poverty
• President Hoover: government should not intervene: economy will recover on its own

What was Hoover's view on government intervention?
Explain his reasoning

1. Government should not intervene
2. Increase taxes on the wealthy
3. Government should take control
4. Support job creation programs

What happened to jobs during the Great Depression?
Explain your answer

1. Wages doubled
2. Jobs increased significantly
3. No change in employment
4. Millions lost their jobs

Weak points American economy

• Protectionism
• Overproduction in agriculture
• Unequal income division
• No government control on banks

Read together 'Poverty and unemployment' (TB 46)

Road to Recovery

• 1932: Hoover not reelected-> Roosevelt takes over
• New Deal: Opposite of Hoover, active government to solve problems
• Solution: spend money to make money

What marked Roosevelt's presidency?
Explain what this meant

1. Active government intervention
2. Minimal government involvement
3. Isolationist policies
4. Tax cuts for the wealthy

Name of the program did Roosevelt implemented?

1. New Deal
2. New Frontier
3. War on Poverty
4. Great Society