Section 1 Flashcards
What really caused it
Weakness of the new era economy
What marked the beginning of the Great Depression?
The stock market crash
What was the most damaging economic aspect
Unequal distribution of wealth
What did oligopolies do
Kept prices artificially high and rigid
What furthered the problem?
Weakness in industries as well as poor management and regulation of banks
What else contributed to the crash?
International economic difficulties
What happen by the 1930s?
Industrial production plummeted
How much of the labor force was unemployed by 1932?
1/4
What happen between 1929-1932
Personal income dropped by over half
Who were particularly hit by the depression?
Farmers
How much did prices fall between 1929-1932
55%
What families were moved to Hooverville (shantytowns)
Urban families
Women jobs
Lower paying jobs so less likely to be fired
Married women did not work
Men jobs
Displaced women as teachers, social workers and librarians
During the depression what fell in families?
Divorce and birth rates