THE

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CHAPTER 14

• THE
• GREAT
• DEPRESSION
• BEGINS

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HERBERT HOOVERELECTED PRESIDENTIN 1928
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HOOVER WINS EVERY REGIONEXCEPT THE DEEP SOUTH
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SECTION 1

• THE
• NATIONS
• SICK
• ECONOMY

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A-K-A

• THE CAUSES OF THE GREAT DEPRESSION

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TROUBLED INDUSTRIES

• TEXTILES
• (CLOTHING)

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TEXTILE MILL IN NORTH CAROLINA
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TROUBLED INDUSTRIES

• MINING
• LUMBERING

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• CHINESE
• MINERS
• IN COLORADO

HYDRALIC MINING IN CALIFORNIA
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MINE NEAR ATHENS,OHIO1929 WAGES 2.45 / DAY
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OHIO COAL MINING PRODUCTION
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TROUBLED INDUSTRIES

• FARMING

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HARVESTING WHEATIN NEBRASKA

• STACKING OATS
• IN COLORADO

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TROUBLED INDUSTRIES

• STEEL COMPANIES
• RAILROADS

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RAILWAYWORKERS

• RAILWAY
• STATION
• IN
• COLORADO

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TROUBLED INDUSTRIES

• NEW
• HOME
• CONSTRUCTION

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OTHER ECONOMIC PROBLEMS

• CONSUMERS SPEND LESS
• LIVING ON CREDIT
• INSTALLMENT PLAN
• STOCKS ON MARGIN
• HIGH INCOME GAP
• UNEVEN DISTRIBUTION OF INCOME

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CURRENT INCOME DISTRIBUTION
October 18th, 2009 Top 1 own 38.1Top 2-4 own
21.3Top 5-10 own 11.5 Top 10 own
70.9 Bottom 90 own 29.1
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Top 1 40 U.S. Wealth (2010)
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INCOME BASED ON EDUCATION
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THE STOCK MARKET

• 1920S
• BULL MARKET
• STOCK PRICES... INCREASED GREATLY

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THE STOCK MARKET CRASHES

• OCTOBER 29, 1929
• BLACK TUESDAY
• STOCK PRICES DECLINE RAPIDLY

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WALL STREET OCT 29, 1929
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1929-1941

• THE
• GREAT
• DEPRESSION

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FINANCIAL COLLAPSE

• A RUN ON BANKS
• BUSINESSES CLOSE
• PRODUCTION DROPS
• MORE UNEMPLOYMENT
• G.D. IS WORLDWIDE

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THE UNEMPLOYED UNION PROTESTING FOR JOBS
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World industrial production, now vs. then
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Volume of world trade, now vs. then
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• World equity markets, now vs. then

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