Great Depression

What factors contributed to great depression?
– Unequal distribution of wealth
– Over-speculation in the stock market
– Federal regulations on businesses
– High tariffs and war debts helped spread the depression world wide
– Stock market crash of 1929
What difficult decisions did families have to make?
– During the Great Depression families had to survive on little money and focus on the necessities of life. Wages went from $25 a week in a job for manufacturing in 1929 to $16 a week in 1933. This made it very difficult for families to make ends meet. Many families started their own gardens to produce food. Unemployment effected men the most, especially those between the ages of 35-55. This was a time in their lives when family responsibilities were the greatest. In the poorest of families, children would take turns eating. Children had no toys to play with, as a family couldn’t afford luxury items. Some children even had no food and clothing.
How does society get out of recession/ deep depression?
– Contain Inflation
– Encourage Imports of High-Priced Commodities
– Discourage Borrowing if Inflation is Ruling High
– Encourage savings
– Cut Taxes
– Reduce Government Expenditure and Focus on Infrastructure Development
– Encourage Exports
– Reduce Interest Rates
– Encourage Foreign Direct Investments
– People Need to Wok More
– Pay your Debt First
– Pay Taxes Promptly
– Buy Assets
– Always have a job

Published by roopamsandhu