The Great Depression

The Great Depression

1929-1941

Bank Failures: More than 9,000 banks were closed and lost lots of money invested in stocks. Unemployment rate rose to 25-35%.

Laissez Faire: The policies left business unregulated and working class received low income.

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Drought Conditions: Farmers lost lots of money from having to sell their land because of massive dust storms known as the "Dust Bowl".

Over-Production: Companies began getting larger and larger but people weren't buying them and Americans were producing way more than what could be consumed.

American Economic Policy w/Europe: Government created The Smooth Hawley Tariff to protect companies but taxes were so high that there wasn't much trading.

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History

1950

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