The great depression

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by lucyguerrero
Last updated 4 years ago

Discipline:
Social Studies
Subject:
American History

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The great depression

Consumer spending and investment dropped, causing steep declines in industrial output and rising levels of unemployment as failing companies laid off workers.

The Great Depression

The Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world.The Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.

Among the programs and institutions of the New Deal that aided in recovery from the Great Depression were the Tennessee Valley Authority (TVA) and the Works Project Administration (WPA), a permanent jobs program that employed 8.5 million people from 1935 to 1943.

The Great Depression began when the stock market crashed in 1929. It deepens when people start doing bank runs.Bank runs swept the United States again in the spring and fall of 1931 and the fall of 1932, and by early 1933 thousands of banks had closed their doors.


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