What would life

be like without money?

Unit questions

• What caused the Great Depression?

• How did the United States get out of the Great Depression?

• How would you feel if you lost all of your money and were not able to make any more?

• Could we ever have another Great Depression in our country?

Great depression economics

ByAmanda wiggins

overview

• Stock Market Crash• Run on Banks• Unemployment, Poverty,

and Foreclosure• New Deal Economic

Programs• Lasting Economic

Consequences

Stock Market CrashOctober 29, 1929 “Black Tuesday”

Run on banks

• Depositors lost $140 Billion

• About 10,000 banks failed

• Checks were no longer accepted

• Businesses couldn’t get credit for inventory

Unemployment

foreclosure

• Many families lost their homes

• Numerous farmers lost their livelihood

• Scores of people became homeless due to foreclosure

Poverty

New deal policies• Created jobs for the unemployed

• Reformed stock market practices

• Restored banking system

• Devalued the US dollar by 41%

• Provided affordable housing

Lasting consequences

• Federal Deposit Insurance Corporation (FDIC)

• Social Security Administration (SSA)

• Securities and Exchange Commission (SEC)

• No gold standard

• Minimum wage

• National debt

Could we ever have another Great

Depression in our country?