#1 Flashcards
What caused the stock market crash?
Weakness of the New Era economy
What marks the beginning of the depression?
Stock market crash
What was the most damaging economic aspect?
unequal distribution of wealth
What are oligopolies?
The people that owned everything
What did oligopolies do?
They kept prices artificially high and rigid
What furthered the problem?
- weaknesses in industries
- poor management
- regulation of banks
What contributed to the crash?
International economic difficulties
What occurred by 1930?
industrial production plummeted
What occurred by 1932?
- 1/4 labor force was unemployed
- personal income drop by over 1/2 between 1929 - 1932
Who was hit the hardest when the depression spread?
Farmers
What fell between 1929-1932? (%)
Commodity prices fell 55%
Where were urban families moved to?
Hoovervilles
What are Hoovervilles?
Shanty towns
Why were woman less likely to be fired?
Had lower paying jobs
Did married woman, have a job?
No
How did men displace woman?
Teachers
social workers
Librarians
What two biggest rates fell for families in depression?
Divorce and birthrates fell
What happened when husbands and fathers were fired?
Often humiliated and despondent
How did woman’s responsibilities grow?
- Became wage earners
- expanded household duties to lower expenses and raise money
- children went hungry, stayed home from school and gave up future plans
As hopes faded what increased?
Family conflicts
