The Great Depression

Robert Novota

Need to know

The Great Depression was the worst crisis of the modern era. It began in 1929 and It lasted until World War II. From 1929 to 1933 industrial production in the United States went down nearly 50 percent. Unemployment rose to at least 25 percent and farm prices fell more than 50 percent. Stock prices crashed 80 percent and one in every three of the nation's banks failed and many people lost their life savings.

Key person

Franklin D. Roosevelt is important because of his saying "the only thing we have to fear is fear itself." I think he said this because he didn't want anyone to lose hope. He set out to create new programs to help the poor and get the economy moving again and this effort was known as the New Deal. The Great Depression created public support to expand the federal government and President Roosevelt developed programs to regulate the economy, provide jobs, and offer citizens some economic protection. The government refinanced mortgages and It hired workers and public employees planted forests, constructed highways, and built buildings perhaps the greatest legacy of the Depression is Social Security, passed in 1935 it provided unemployment insurance and old-age pensions to American workers and organized labor grew enormously as workers joined unions in record numbers.

Event list

  • stock market crash in 1929

  • high costs of world war I
  • expanding industrialization

citation