The Great Depression - Presentation (Macroeconomics Perspective)Arjun Parekh
This brief presentation on 'The Great Depression' has been made from the point of view of understanding Macroeconomic factors that played an important role.
The Great Depression - Presentation (Macroeconomics Perspective)Arjun Parekh
This brief presentation on 'The Great Depression' has been made from the point of view of understanding Macroeconomic factors that played an important role.
This presentation informing about great depression 1929. Telling us reasons of great depression, what happen in this processand How to find a solution for the crisis?
This presentation informing about great depression 1929. Telling us reasons of great depression, what happen in this processand How to find a solution for the crisis?
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The Great Depression was a major monetary droop in the 1930s. Numer.docxrtodd33
The Great Depression was a major monetary droop in the 1930's. Numerous Americans lost their positions, their investment funds, and their homes. In any case, the United States was not by any means the only influenced nation. The business droop influenced the whole world. Many quality Black Tuesday, when the New York Stock Exchange slammed in 1929, as the significant reason, yet one can not disregard the way that there was not only one single factor causing this financial defeat. Most antiquarians and financial analysts concur that the securities exchange crash was only one of numerous supporters of the droop. As a general rule, it was all the more a sign that things had just turned out badly. To comprehend the Depression's causes, one must go further back. The Great Depression came about because of a blend of efficient and political causes that had been developing since months preceding the accident.
After World War I finished, American ranchers made some troublesome memories making benefits. The homestead despondency of the 1920's was a contributing financial factor to the Great Depression. Ranchers were delivering a surplus and well over what American customers were obtaining. Costs of rural items fell around 40% by 1921 and stayed low for the remainder of the decade. A few ranchers were in so much deficiency they couldn't take care of the home loan on their homestead and needed to lease the land or even leave. Harsh occasions had hit other significant pieces of the economy, also, including vitality, coal mining, railways, shipbuilding, and materials. Organizations had a lot of stock and too barely any purchasers.
Likewise, high taxes and war obligations were political reasons for the Great Depression. America had loaned cash to the United Kingdom and other
European countries in World War I
reparations. This made numerous different economies become dependent on the U.S. economy. As the United States encountered this monetary downturn, numerous different countries were influenced as America demanded reimbursement. European nations couldn't bear to reimburse their obligations. Pressures were additionally exacerbated when the Hawley-Smoot Tariff Act was passed in 1930. In view of the goals of protectionism, this demonstration raised import obligations to secure American ranchers and specialists, bringing about world exchange decrease by 66% from 1929 to 1934 and worldwide financial strain.
The 1920's were a period of incredible financial and innovative development in America. World War I had quite recently finished, and Americans were prepared to take a break from the nervousness of world legislative issues. During this time, known as the Roaring Twenties, Americans were centered around bringing in cash and having a fabulous time. Manufacturing plants worked to make weapons and ammo for the war were restored to produce purchaser items. In any case, overproduction in industry brought about a financial reason for the Great Depression. .
2. What started the Great Depression? Many believe the depression started because of Black Tuesday, the day that the stock market crashed on October 29, 1929. However, there are some people who believe that the stock market crashed Because of the depression, rather then starting it. Even Rockfeller had believed this omptistic idea. Indeed, the depression got better in the early part of 1930, but had sunk once again by April.
3. Who where effected? Nearly everyone was effected by the depression. Banks had lost money because of panicked people quickly withdrawing, and because of having loaned to people who couldn’t pay back. Because of this, they had to foreclose businesses, who in turn had to lay off workers in order to have enough money to keep their business alive. Even farming was being hurt because of low crop prices, meaning they weren't getting enough money from selling crops.
4. Other countries The US was not the only country having a depression. Almost every country was effected, even wealthy countries. America wasn’t even the worse effected either. The cause of the world wide depression is thought to be caused from the previous war. President Hoover declared that the US was ‘fundementally sound’, and that we where just feeling the effects of the world wide depression.
5. New Deal Presented in 1933 by Franklin Roosevelt, the New Deal was created to try and help the country out of it’s depression. It was a deal to leave behind the ‘laissez-fair’ (govn. Letting buisnesses do their own thing) and for the gov to once again start regulating things. It wasn’t anything unheard of, yet the rate in which accomplished it’s goals was astonishing.
6. New Deal cont. The first new deal dealt with large businesses to stimulate the economy. Mostly it was made for Rail Roads, Farming, Banking, and Industry. A second new deal was formed in 1934-36 which had the Wagner act, WPA, Social Security, and other things to help tenant farmers and Migrnt workers. However, several programs where rules unconstitutional, and many others got replaced except NRA. In 1936, the Fair Labor Standards act came to play (maximum hours and minimum wages for workers).
7. WPA (Works Progress Administration) and Wagner act. The wagner act was created to limit the ability for employers to create labor unions, collective bargaining, and strikes. However, this act left out those under the Railway Labor act, agricultural employees, domestic employees, supervisors, government workers, and independent contractors. The WPA was the biggest New Deal project. It gave millions jobs for a public project, like building roads and buildings, taking part in media activity. It’s impact was great enough that nearly every community had something, weather it was a bridge or a pack, constructed by the administration.
8. rates In the US unemployment was roughly 25% threw the 1930s. This, however, was a bit lucky compared to the 33% unemployment rates some other countries experienced. Suicide rates where high in 1930. For every 100,000 people, 15 people committed to suicide. And that is only the US. The rates where higher around the world.
9. houses Many people had lost their homes, cars, and other possessions, trying to repay loans or get back money lost during the crash. Because they couldn’t afford to live in normal housing, people found themselves living in Hoover villes, or very shanty towns. There families found themselves in harsh spartan conditions.