The Great Depression and the New Deal
Classified in Economy
Written at on English with a size of 2.82 KB.
The Great Depression
Starting with the collapse of the US stock market in 1929, the Great Depression was a period of worldwide economic stagnation and depression. Heavy borrowing by European nations from the USA during World War I contributed to instability in European economies. Sharp declines in income and production occurred as buying and selling slowed down. Widespread unemployment resulted, and countries raised tariffs to protect their industries. America stopped investing in Europe. This led to a loss of confidence that economies were self-adjusting, and President Herbert Hoover was blamed for the crisis.
Hoovervilles
Depression shantytowns were named after President Hoover, whom many blamed for their financial distress.
The New Deal
A series... Continue reading "The Great Depression and the New Deal" »