The Great Depression The Great Depression I. I. Economic Decline Economic Decline A. “ A. “ Too much” competition Too much” competition 1. New business competition 1. New business competition a. Lower prices for a. Lower prices for consumers consumers b. Less profit for business b. Less profit for business 2. Decline in clothing sales 2. Decline in clothing sales a. Manufacturing moved a. Manufacturing moved south south b. Foreign competition b. Foreign competition c. Changing styles of c. Changing styles of clothing clothing

The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

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Page 1: The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

The Great DepressionThe Great DepressionI. I. Economic DeclineEconomic Decline

A. “A. “Too much” competitionToo much” competition 1. New business competition1. New business competition a. Lower prices for consumersa. Lower prices for consumers b. Less profit for businessb. Less profit for business 2. Decline in clothing sales2. Decline in clothing sales a. Manufacturing moved southa. Manufacturing moved south b. Foreign competitionb. Foreign competition c. Changing styles of clothingc. Changing styles of clothing -shorter skirts = less fabric-shorter skirts = less fabric

Page 2: The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

B. B. Decline in Coal IndustryDecline in Coal Industry1. New energy sources1. New energy sources

a. Oil a. Oil

b. Petroleum / Gas b. Petroleum / Gas

c. Hydroelectricc. Hydroelectric

2. Coal mines shut down2. Coal mines shut down

Page 3: The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

C. C. Farm Over-ProductionFarm Over-Production1. U.S.A. produced mass-quantities of 1. U.S.A. produced mass-quantities of

food food to help Europe after WWIto help Europe after WWI a. Demand was higha. Demand was high b. Prices were highb. Prices were high2. Europe stabilized 2. Europe stabilized a. Demand decreaseda. Demand decreased b. Prices plummetedb. Prices plummeted -profits vanished-profits vanished -Americans panicked-Americans panicked

Page 4: The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

D. D. Stock Market CrashStock Market Crash (October 29, (October 29, 1929)1929)

1. Panic caused mass-sale of stocks1. Panic caused mass-sale of stocks

a. Stock values plummeteda. Stock values plummeted

2. “World Depression”2. “World Depression”

a. No foreign demand for U.S. a. No foreign demand for U.S. productsproducts

Page 5: The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

E. E. Poor Distribution of Poor Distribution of WealthWealth1. Economic decline = loss of jobs1. Economic decline = loss of jobs

2. 3/5 of U.S. $ owned by 2% of 2. 3/5 of U.S. $ owned by 2% of peoplepeople

a. 98% of people = low income a. 98% of people = low income (poor)(poor)

b. People had no $ to spendb. People had no $ to spend

c. Economy came to a haltc. Economy came to a halt

Page 6: The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

Unemployment During the Great Unemployment During the Great DepressionDepression

Page 7: The Great Depression The Great Depression I. Economic Decline A. “Too much” competition A. “Too much” competition 1. New business competition 1. New business

QuestionsQuestions

1.1. What were the primary causes of the What were the primary causes of the Great Depression?Great Depression?

2.2. What effects did the Great What effects did the Great Depression have on the American Depression have on the American people?people?

3.3. What actions did President Hoover What actions did President Hoover take to try to deal with the Great take to try to deal with the Great Depression?Depression?