The Great Depression was caused by false prosperity, speculation, the stock market crash, banking crisis, unemployment, and trade collapse. The stock market crashed in October 1929, leading to widespread bank failures. Unemployment rose to 25-35% as factories closed. Farm income declined 60% and 1/3 of farmers lost their land. People were unable to withdraw savings from failed banks and unemployment benefits were not enough to live on, forcing many to sell possessions and live in makeshift shelters or "Hoovervilles". The Depression had devastating social effects like long unemployment lines and families living in cars or tents. President Hoover believed in private solutions while FDR emphasized helping those with little.
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?