5th-The+Great+Depression

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Time line of the Great Depression: 1929- 1939 (outline)
 * The Great Depression has said to have begun with a catastrophic collapse of stock- market prices on the NEw York Stock Exchange in October of 1929.
 * There was more than 3600 banks suspended operations as the Depression deepens.
 * A drought begins in the Eastern states durning the summer and quickly speeds to the Midwest and Great Plains also known as the "Dust Bowl."
 * The nation's most notorious gangster was known as Alphonse Capone was sent to prison for 11 years for income tax evasion.
 * The Depression causes cuts in educational budgets affecting teacher pay salaries and programs offered and leads to school closures,mostly in rural areas.
 * Roosevelt easily wins the presidential election over great Republican Herbert Hoover but doesnt get inaugurated until March 4,1933.
 * Unemployment reaches 25% of the nation's workforce.
 * The number of lynchings of black Americans in the U.S. during the Great Depression peaks at 28.

Economic Problems ​ Economic problems created social problems such as jobs were lost. Most families durning this period were torn apart. Students that attended school drop out to help the families by getting any job that was offered. High class business men had to look for a job that was not so fufilling. The biggest problem was that most families became homeless cause of their money situation. Which lead to a high suicide rate durning this period. The banking industry was on a fall with over 9,000 banks failing. The Great Depression effected people and families in many ways.



"It is well over a half-century since the Great Depression of the 1930's, the most severe and protracted economic crisis in American history. To this day, there exists no general agreement about its causes. There tends to be some consensus regarding its consequences, those who at the time argued that the depression was symptomatic of a profound weakness in the mechanisms of capitalism were only briefly heard. After WWII their views appeared hysterical and exaggerated, as the industrialized nations sustained dramatic rates of growth and as the economics profession became increasingly preoccupied with the development of Keynesian theory. As a result, the economic slump of the interwar period came to be viewed as a policy problem rather than the outgrowth of fundamental tendencies of capitalism. The consumption was that the Great Depression could never be repeated owing to the increasing sophistication of economic analysis and policy formulation. Indeed the belief became that the business cycle was tamed and obsolete."