Causes_of_the_Great_Depression lesson
Canada in the Great Depression
Stock Market Crash
• Too many people were buying stocks “on margin” which means that they borrow money from the bank in order to buy more stocks. • The crash occurred on “Black Tuesday”, October 29, 1929. • Families lost all their money, businesses went bankrupt.
• This uncertainty and optimism led to these underlying causes of the Great Depression:
• Canada’s economy relied heavily on exports to other countries • European economies were still weakened by the effects of WWI
• In some cases people felt there was no wayபைடு நூலகம்out of the despair of the depression and suicide rates increased.
• The Wizard of Oz, Gone with the Wind, Frankenstein, Snow White and the Seven Dwarfs and King Kong were extremely popular during the 30’s because these films of fantasy allowed people temporarily escape from the problems of their daily lives.
the great depression名词解释
The Great DepressionIntroductionThe Great Depression is considered one of the most significant economic downturns in the history of the United States and the Western world. Lasting from 1929 to the late 1930s, this severe economic crisis hadfar-reaching consequences not only for the American economy but also for global economies. In this article, we will explore the causes, impact, and legacy of the Great Depression.Causes of the Great Depression1.Stock Market Crash of 1929:–The economic turmoil began with the stock market crash on October 29, 1929, also known as Black Tuesday.–Stock prices plummeted, leading to a massive loss of wealth for investors and the collapse of many banks.2.Overproduction and Underconsumption:–The 1920s witnessed rapid industrialization and an increase in production capacity.–However, wages did not rise at the same pace, leading to a growing gap between the rich and the poor.–As a result, a significant portion of the population could not afford to buy the goods produced, leading tooverproduction and a decline in demand.3.Decline in Agricultural Prices:–Farmers, already grappling with overproduction and falling prices in the 1920s, were hit hard during the GreatDepression.–The Dust Bowl phenomenon worsened the situation, as severe droughts and soil erosion devastated farmlands in theMidwest.4.Bank Failures and Credit Crunch:–The stock market crash resulted in many banks suffering significant losses.–People began to panic and withdrew their money from banks, leading to a wave of bank runs and subsequent bank failures.–The lack of credit availability further exacerbated the economic crisis.Impact of the Great Depression1.Unemployment and Poverty:–The Great Depression resulted in soaring unemployment rates, with nearly 25% of Americans without jobs during the peak ofthe crisis.–Many families fell into poverty, struggling to meet their basic needs and facing homelessness.2.Business Failures:–Numerous businesses, both large and small, collapsed during the Great Depression.–The combination of decreased demand, credit shortages, and financial instability led to widespread bankruptcies.3.Global Economic Contraction:–The economic decline in the United States spread to other countries, with international trade shrinking significantly.–Countries heavily dependent on exports, such as Germany, experienced severe economic downturns.4.Social and Psychological Impact:–The Great Depression had a profound impact on individuals’ mental well-being.–Suicide rates increased, and there was a general feeling of hopelessness and despair among the population.Government Response and Recovery Efforts1.The New Deal:–President Franklin D. Roosevelt implemented a series of economic relief and reform measures known as the New Deal.–The New Deal aimed to provide immediate relief to those suffering, stimulate economic recovery, and implement long-term reforms to prevent future crises.2.Expansion of Government Intervention:–The Great Depression marked a turning point in the role of government in the economy.–The federal government took on a more active role,implementing regulations, creating social safety nets, andpromoting economic stability.3.Public Works Projects:–The New Deal included various public works projects, such as the construction of infrastructure, aimed at creating jobsand stimulating economic growth.4.World War II:–The outbreak of World War II ultimately ended the Great Depression.–The war stimulated industrial production and createdemployment opportunities, pulling the economy out of thedepression.Legacy of the Great Depression1.Regulatory Reforms:–The Great Depression led to the establishment of financial regulations to prevent another economic catastrophe.–The Glass-Steagall Act, for example, separated commercial and investment banking and created the Federal DepositInsurance Corporation (FDIC) to safeguard bank deposits.2.Social Security System:–The Social Security Act, enacted during the New Deal,established the foundation for the American social securitysystem.–It aimed to provide economic security for the elderly, unemployed, and disabled through various financialassistance programs.3.Lessons Learned:–The Great Depression highlighted the importance ofgovernment intervention during economic crises.–It paved the way for a better understanding of monetary and fiscal policies’ role in stabilizing the economy.4.Economic Research and Analysis:–The Great Depression prompted economists to delve deeper into understanding the causes, effects, and potentialsolutions to economic downturns.–The field of macroeconomics emerged, leading to thedevelopment of new theories and models.ConclusionThe Great Depression remains a significant event in world history, leaving an indelible mark on economies, governments, and society as a whole. Its causes, devastating impact, and subsequent government response shaped economic policies for decades to come. Although lessons were learned, the scars of the Great Depression serve as a constant reminder of the fragility of the global economy and the need for prudent and proactive measures to prevent future crises.。
英语国家概况问答题
1.Briefly discuss the international influence of the UK exerciseson today’s world.The UK had built up a huge overseas empire.It is a developed country,with the fifth GDP largest economy in the world.The UK remains a major power with strong economic,cultural,military and political influence worldwide.2.What are the causes of the Great Depression?Unbalanced economy,the tendency to use profits for speculation rather than for productivity;an unregulated banking system and a lack of supervision of the stock market.3. What are the characteristics of the British Constitution?The UK has no written constitution in any one document it is only partly written and contained in multiple documents,characteristics:1constitutional monarchy;2 parliamentary sovereignty;3 representative democracy;4 the rule of law4. Why has the turnout（参加人数）been so low in American general elections during the past few decades?Because it is inconvenient for some citizens to participate in the election because of the different registration laws.And the Americans aremuch more care about the local politics than those at the federal level.5. What are the problems that the Social Security System confronts in the UK today?Frist of all,the funding of its insurance has always been problematic and levels of benefit low;Secondly,it is very complicated for claimants and administrators alike with its array of benefit and is subject to fraud;Thirdly,one technical difficulty in implementing the system is that accurate figures of poverty are hard to define;Finally,the system has been criticized for the racism and sexism in the mind of original architect of the system.温馨提示:除了50分的选择题和30分的3道简答题，试卷还有10分的判断题和10分填空题。
两次经济大危机原因的比较研究 (英文版)
2014--2015学年第一学期«英语国家概况»科目考查论文A Comparison of the Causes of The Great Depressionin 1929 and the Great Recession of 2008 1929年大萧条与2008年经济大危机成因对比研究学院专业班级学生学号AbstractThe Great Depression in 1929 and the Great Recession of 2008 are twolarge-scale events in American economic history for nearly one century. Though the two economic crises vary in background, ways of eruption and origins, they definitely share in common. For example, both of their eruptions are caused by economic imbalance, overproduction, and the driving force behind these is the capital seeks for profit.The study will focus on the comparison of the Great Depression and financial crisis. The writer will do a brief discussion and research on their courses, then to reveal their significance to prevent and settle today’s economic crisis, which contributes to help us to improve the cognition to economic crisis’ development.The thesis is composed of following five parts:In the first part the writer briefly describes the background of the crises and their impacts on world economy and then leads to the causes of the two crises.In the second part the writer explains the common causes of American two economic crises. In the third part and the fourth part the writer interprets the causes of two American economic crises in 1929-1933 and in 2008 respectively.In the conclusion the writer concludes that through the research of the causes of the two economic crises, the countries in the modern world may learn how to improve its capacity to prevent and resolve the potential economic crisis.Key words: economic crisis, financial crisis, United States, comparison, causes摘要美国2008年发生的经济危机与20世纪30年代的经济危机是近一个世纪以来美国经济发展史上出现的两次大规模的危机。
The_Great_Depression
About Franklin D. Roosevelt
Born in 1882 at Hyde Park, New York--now a national historic site--he attended Harvard University and Columbia Law School. On St. Patrick's Day, 1905, he married Eleanor Roosevelt. He won election to the New York Senate in 1910. President Wilson appointed him Assistant Secretary of the Navy, and he was the Democratic nominee for Vice President in 1920.As the war drew to a close, Roosevelt's health deteriorated, and on April 12, 1945, while at Warm Springs, Georgia, he died of a cerebral hemorrhage.
About the New Deal
1、What is the New Deal? 2、The first hundred days 3、Reforms 4、Recession of 1937 and recovery 5、World War II and the end of the Great Depression
C a use s of the G re a t D e pre ssion T he re we re m ultiple ca use s for the first downturn in 1929. T he se include the structura l we a kne sse s a nd spe cific e ve nts tha t turne d it into a m a jor de pre ssion a nd the m a nne r in w hich the dow nturn spre a d from country to country.
The Great Depression
2. Bank Failures
Throughout the 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings. Surviving banks, unsure of the economic situation and concerned for their own survival, stopped being as willing to create new loans. This exacerbated the situation leading to less and less expenditures.
Effects
Nation after nation fell victim to:
Industrial decline Bank failures Deflated prices and profits Commercial stagnation
Personal Hardships
Causes
1. Stock Market Crash of 1929
It was one of the major causes . Two months after the original crash in October, stockholders had lost more than $40 billion dollars. Even though the stock market began to regain some of its losses, by the end of 1930, it just was not enough and America truly entered what is called the Great Depression.
The-Great-Depression[1]资料讲解
![The-Great-Depression[1]资料讲解](https://img.taocdn.com/s3/m/9399294c6f1aff00bfd51e27.png)
Virtually no federal regulations existed to control banks; Corruption was rampant; many bankers bought stocks on margin with customers’ savings.
The-Great-Depression[1]
Outline
1、What is the Great Depression? 2、Causes of the Great Depression 3 、 Start of the Great Depression 4、Effects of the Great Depression 5、Turning point and recovery
argin Buying in the Stock Market:
An individual could purchase a share of a company’s stock and then use the promise of
Factories produced too much and people were not able to buy all of the new products.
b.Overproduction in agriculture:
When WWI ended, there was not as much need for food in Europe.
Start of the Great Depression
The depression originated in the U.S., around September 4, 1929 and became worldwide news on October 29, 1929 (known as Black Tuesday).
罗斯福新政中recovery的内容
罗斯福新政中recovery的内容The concept of recovery in Roosevelt's New Deal encompasses various measures aimed at restoring the economy following the Great Depression. 罗斯福新政中的复苏概念包括各种措施，旨在恢复大萧条后的经济。
This period saw widespread unemployment, bank failures, and a general lack of consumer confidence, which required bold and innovative solutions to stimulate growth. 这一时期普遍存在失业、银行倒闭和普遍缺乏消费者信心，需要大胆和创新的解决办法来刺激增长。
One of the key components of the recovery efforts was the establishment of the Civilian Conservation Corps (CCC), which provided employment for young men in conservation and infrastructure projects. 复苏努力的一个关键组成部分是建立了国民保卫队（CCC），为年轻男性在保护和基础设施项目中提供就业机会。
By putting people to work and investing in public works projects, the government aimed to spur economic activity and create jobs. 通过让人们工作并投资于公共工程项目，政府旨在刺激经济活动并创造就业机会。
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The availability of so many consumer goods, such as electric appliances and automobiles, offered to make life easier. Canadians felt they deserved to reward themselves after the sacrifices of World War I.
The extensive speculation that took place in the late 1920s kept stock prices high, but the balloon was due to burst…
The crucial point came when banks began to loan money to stock-buyers.
There was no insurance for depositors at this time, so many lost their savings.
The Great Depression was not the country’s first depression, though it proved to be the longest and most seveБайду номын сангаасe.
Percent Change in Real GDP 15 10 5 0 1929 -5 -10 -15 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940
Actually, the “crash” was by no means a one-day event.
A month earlier, trading increased rapidly as stock values dropped and people panicked, trying to sell their stocks before losing too much of their investments.
So what went wrong?
The Crash:
“Black Tuesday” Oct. 29, 1929, the Stock Market crashed.
Over 16 million shares sold in massive selling frenzy. Losses exceeded $26 billion.
There had been credit before for businesses, but this was the first time personal consumer credit was available.
By the end of the 1920s, 60% of the cars and 80% of the radios were bought on installment credit.
Causes of The Great Depression
The Great Depression is one of the most misunderstood events in history…
The Great Depression was a worldwide event.
By 1929, the world suffered a major rise in unemployment.
There are several explanations, but the most obvious causes are four:
1. 2. 3. 4.
Overproduction Banking & Money Policies Stock Market Actions Political decisions
The Stock Market growth in the 1920s tells a story of runaway optimism for the future.
Just as one could buy goods on credit, it was easy to borrow money to invest in the stock market; This was called “margin investing” (or “buying on margin.”)
Bank Failures 4500 4000 3500 3000 2500 2000 1500 1000 500 0
1922 1924 1926 1928 1930 1932 1934 1936 1938 1940 1942 1944
Simply put, when a bank fails, a large amount of money disappears from the economy.
Buying on Credit increased personal debt. Higher interest rates caused LESS DEMAND for goods.
3. STOCK MARKET ACTIONS
The Stock Market was an indicator of national prosperity.
Facing higher interest rates and accumulating debt, people began to slow down their buying of consumer goods…
So,to summarize, banking policies which offered “buying on credit” first with lower interest rates, then raising those rates, caused a dangerous situation in the economy.
Wall street investors were allowed to use the stocks themselves as collateral. If the stocks dropped in value, the banks would be left holding near-worthless collateral.
Increased food production during World War I was an economic “boon” for many farmers, who borrowed money to enlarge and modernize their farms. How would this work against them in after the war?
So, to summarize it, HIGH DEMAND for consumer goods and agricultural products led to OVERPRODUCTION.
2. Banking & Money Policies
The uneven distribution of wealth didn’t stop the poor and middle class from wanting to possess luxury items, such as cars and radios…
More Poor Banking Policies…
With the loss of confidence in stocks, people began to lose confidence in the security of their money being held in banks.
1. Over-production:
The “roaring twenties” was an era when our country prospered tremendously. Average output per worker increased 32% in manufacturing and corporate profits rose 62%.
People leapt at the chance to invest in business!
As business was booming in the 1920s and stock prices kept rising with businesses’ growing profits, buying stocks on margin functioned like buying a car on credit.
Small investors were more apt to invest in the Stock Market in large numbers because the “margin requirement” was only 10%.
This meant that you would buy $1,000 worth of stock with only 10% down, or $100.
But, wages were not keeping up with the prices of those goods…and that created problems!
One solution was to let products be purchased on credit. The concept of “buying now and paying later” caught on quickly.
Customers raced to their banks to withdraw their savings.