The Great Depression

The Great Depression

1. From: October 29,1929

2. Topics

   • End
     • The recovery from The Great Depression started for most countries around 1933 but some countries like the United States did not recover for more than a decade. The outbreak of WWII in 1939 is commonly known to people and historians as the ending of The Great Depression. A reason of the recovery is that WWII created jobs for people and stimulated production of goods, military weapons, ammunition, and vehicles in particular. When the United States entered the WWII in 1941 it eliminated any remaining effects of The Great Depression and finally bringing the unemployment rate below 10%.
   • Begining
     • Many historians refer to the start of The Great Depression as October 29, 1929. From the start of The Great Depression (October 29, 1929) to roughly around 1932 world GDP (Gross Domestic Product) dropped by 15% total.
   • Effects
     • Also Great Depression had devastating affects on all classes whether it be rich, middle, or poor class, they all lost a lot of their wealth or all of it. Personal income, taxe revenue, prices and profits are all things that dropped drasticly. Although that was not the only thing that dropped, world trade dropped by an entire 50% and unemployment in the United States rose to 25% which ment that 1 in 4 people did not have a job or work due to The Great Depression. The prices and/or value of crops dropped about 60%.
     • Capitalism
       • Even though the idea of governments controlling their society's more was being put into action capitalism was still maintained in society even with the new regulations and control put in place by the governments. Pretty much all countries today have an element of Capitalism in their government today including communist countries. But the economic system of capitalism is managed by the government in different amounts.
     • Communism
       • In 1917 the Soviet Union was formed and that was the first modern example of communism. The main idea of communism was that the government controls nearly everything related to the people and the society. During The Great Depression the Free Market economic system was not currently working due to the booms and busts so people came up with the idea of governments having more control on the society. Communism was one of the ideas, expect instead of the government having a little more control, the government controlled everything. The Great Depression ended during the outbreak of WWII in 1939, after WWII people decided that governments needed to control their society's more. Some countries still maintained communism though due to their views.

3. To: Around 1939 (WWII)

4. Presented By: Alexander Yee