History 1BB3: America and the World: The Twentieth Century

Dr. Stephen M. Streeter

McMaster University, Winter 2002

 

America and the Great Depression

slides (html)

slides (pdf)

I. U.S. stock market crash

Black Thursday (24 October 1929)
Black Tuesday (29 October 1929)
John Kenneth Galbraith, The Great Crash

II. Economic Indicators

measuring the impact of the Great Depression: (Timeline)

1. GNP --the value of all goods and services--fell in half ($104 to 56 billion)

2. wages fell by nearly 50% (per capita disposal income fell $678 to $360)

3. more than 100,000 businesses failures (most in first three years)

4. bank failures: 4000 in 1933

5. corporate profits fell by 90% ($10 to $1 billion);

6. farm prices fell two-thirds: did not recover until after World War II

7. unemployment increased over 12 fold (1.5 million to 12.8 million)

III. Social Impact

Links to Resources on the Great Depression

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