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Great Depression

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Great Depression Great Depression Presentation Transcript

  • The Great Depression By: Tom Answeeney Amber Ferger Mike Gaul and Mike Voss
  • Our Task
    • Describe the cause and effect of the Great Worldwide Depression. What would have happened to people like Hitler if it never occurred?
  • What was the Great Depression? depression : the state of being sad and gloomy; dejected; downcast
    • 1929-1930
    • Economic slump in North America, EUROPE , and other countries
    • Longest and most severe depression
    View slide
  • Causes
    • World War One
    • The Stock Market Crash
    View slide
  • World War One ~Long difficult war ~ Nations borrowed money from the United States ~DEBT General Cause
    • Capital: the wealth, whether in money or property, owned or employed in business by an individual, firm, corporation (simply put: money earned)
    • Stock: a share of a company (money raised by a company by selling shares of the company)
    Key Words
    • One of the Main Causes *
    • Stocks rose
    • Borrow money
    • 1929: value of a stock went way down
    • People became poor and economy suffered
    What exactly was the stock market crash? Stocks Stocks “ Black Friday”
    • Europeans exported goods to America
    • Stock Market Crash= not enough money for European imports
    • Europeans suffered
    How did that effect Europe? General Cause
  • Overall Effects
    • Unemployment
    • Homelessness
    • Poverty
    • Decline in products
    • Collapsed economies
  • Specific Places England Germany France Italy Sweden
  • GERMANY
  • WWI and GERMANY
    • Spent a ton of money on the war
    • Treaty of Versailles (article 231)
    • ~Blamed Germany for the war
    • ~Made them pay for it ---- debt (decrease in markets)
    Background
    • If Germany was in debt where did they get the money to pay for the war?
    • ~ DAWES PLAN
    Dawes Plan United States Germany France and Britain $ $ $ Background
  • Germany and the Depression
    • Most affected by the Great Depression
    • Germany relied on US for the money
    • When the American economy crashed, Germany no longer had money to give to France and Britain
    • Cut public services to preserve money
    • Unemployment
    • Declining Productivity
    • Business failures
    • Decreased Public
    • spending
    • 1931: German banks
    • collapsed
    What happened in Germany?
    • Of course! To name a few…
    • Decline in economic strength as well as in national pride
    • Homelessness and inflation
    • The value of German currency declined drastically
    • Leads to Holocaust
    Were there any long term effects?
  • ENGLAND
    • DEBT
    • Foreign investment declined
    • English banks declined—US lent money now
    • Manufacturing suffered ---loss of colonial markets
    WWI AND ENGLAND
  • The Gold Standard
    • Made the pound convertible to its value in gold
    • British exports = more expensive
    • Economic recovery slowed.
    • Export industries tried to cut costs of products by lowering workers' wages
    Background
    • Unemployment
    • Demand for British products collapsed
    • Exports fallen 50%
    • “ National Government”
    • Raised taxes
    • Wage cuts
    • Poverty
    What happened in England?
  • FRANCE
    • Debt
    • Postwar reconstruction
    • Some “pluses”:
    • ~acquired more machinery
    • that was more advanced
    • (competitive advantage)
    WWI and France Background
    • Production decreases
    • UNEMPLOYMENT!
    • Short-lived governments
    • 1934: attempted overthrow of government
    EFFECTS
  • SWEDEN
  • Some Causes
    • Lack of demand for goods
    • Political unrest  
    • Less spending
    • Fall in wages 
    • Labor issues
    • Conservative government lost power
    • Government was taken over by the Social Democrats.
    • Reduced industrial production
    • Rise in unemployment
    Effects
  • What would have happened to people like Hitler if the Depression never took place?
  • THE END