3/18 Flashcards
What was the crash/ depression really caused by?
The weakness of the New Era Economy
What marked the beginning of the Depression?
The stock Market Crash
What was the most damaging economic aspect?
Unequal distribution of wealth
What did Oligopolies do?
They kept the prices artificially high and rigid
What furthered the crash?
Weaknesses in industries as well as poor management and regulation of banks
What did the international economic difficulties contribute to?
The crash
What plummeted by the 1930’s?
Industrial production
What happened by 1932?
1/4 of the labor force was unemployed and personal income dropped by over half between 1929 & 1932
Who was particularly hit hard from the depression?
Farmers
How much did commodity prices fall between 1929 & 1932?
55%
Where did urban families move to?
“Hoovervilles” (shantytowns)
Who were most likely to not get fired? Why?
Women because people could pay them less
Who did not work?
Married women
What did the men do?
They displaced women from teachers, librarians, and social workers
What changed with the families?
Divorce and birth rates fell
Husbands and fathers were often humiliated and despondent when fired
