The document provides details about the Great Depression that occurred from 1929 to the late 1930s. It describes how the stock market crash of 1929 led to widespread bank failures as people withdrew their deposits. This caused many businesses to cut wages or lay off workers, resulting in high unemployment. Some key effects included a 30% drop in GDP, mass unemployment, reduced industrial production and exports, and social impacts such as migration within the US. The Depression affected other countries globally due to reduced international trade and their dependence on exporting to the US and other nations.
1. THE GREAT DEPRESSION By : Anubha Mathur( 10810008) Deep Pathak(10810020) Rishi Arora(10810051)
2. What ? The decade of the 1930s saw the Great Depression in the United States and many other countries. During this decade large numbers of people lived in poverty, desperately in need of more food, clothing, and shelter. Yet the resources that could produce that food, clothing, and shelter were sitting idle, producing nothing. When ? From 1929 – late 1930’s Why ? Attributed to a number of reasons
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7. Initially, the Banking sector was the worst hit Source : Banking and Monetary Statistics , Board of Governors of the Federal Reserve System, 1943, pages 18 and 283. Bank Suspensions in the US Year Suspensions 1929 659 1930 1350 1931 2293 1932 1453 1933 4000 1934 57
