Roosevelt’s first war…on the Depression

Image via Wikipedia By late winter 1933, the nation had already endured more than three years of economic depression. Statistics revealing the depth of the Great Depression were staggering. More than 11,000 of 24,000 banks had failed, destroying the savings of depositors. Millions of people were out of work and seeking jobs; additional millions were [...]

The Consequences of the Great Depression

Though the U.S. economy had gone into depression six months earlier, the Great Depression may be said to have begun with a catastrophic collapse of stock-market prices on the New York Stock Exchange in October 1929. During the next three years stock prices in the United States continued to fall, until by late 1932 they [...]

Causes of the Great Depression

Really helpful post from scoop2go 1. False Prosperity * overdependence on mass production, consumer spending, advertising, welfare capitalism, high tariff, “invisible hand” * automobile was the leading industry * chemicals, appliances, radio, aviation, chain stores * overproduction in textiles, farming, autos * real wages increased only 11% * 60% population less than $2000 poverty minimum [...]