The Great Depression

Katie Holt

Summary

  • The Great Depression was the worst economic crisis of the modern era.
  • It was caused by the stock market crash, the costs of World War 1 and the expanding industrialization.
  • The effects it had on the American people was the banking system was shaky, most Americans were unemployed and lasting social changes.
  • President Roosevelt's famous saying about the Great Depression was "the only thing we have to fear is fear itself."
  • World War 2's economic stimulus finally ended the Great Depression.

Key person

Timeline

1920-600 banks fail each year on average.

1922-Supreme Court strikes down federal child labor legislation.

1931-No major legislation is passed addressing the Depression.

Cite

Kangas, Steve. "Timeline of the Great Depression." Timeline of the Great Depression. N.p., n.d. Web. 12 Jan. 2014.