What caused the Great Depression?

Jordan Hilder
Mind Map by Jordan Hilder, updated more than 1 year ago
Jordan Hilder
Created by Jordan Hilder about 6 years ago


Jordan Hilder P6

Resource summary

What caused the Great Depression?
  1. The Economy
    1. CAUSES
      1. Over Production
        1. Industry and Agriculture
          1. over produced products beyond the demand
            1. Business cut production
              1. Workers suffered wage cuts and layoffs
                1. Consumers had little money to spend
                  1. Demand fell for good
                    1. Repeat the cycle
            2. Farm Crisis caused Europeans to stop buying American produce
          2. The widening gap between rich and poor
            1. 1% of Americans owned over 33% of all American assets
              1. The rich saved lots of money and disrupted the economy's monetary flow
              2. Stock market crash
                1. Caused by buying on the margin
                  1. Stock brokers selling their shares for stronger British shares
                2. Effects
                  1. Deflation
                    1. Unemployment at 25%
                      1. Drop in Production
                    2. Politics
                      1. Causes
                        1. Hoover's no government interference with business policy
                          1. Few governmental regulations
                          2. Effects
                            1. FDR elected 1932
                              1. New Deal programs increased government role in the economy
                                1. Hitler gains power in Germany because of the hyperinflation and the poverty at the time
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