summative notes - the great depression

the great depression unpacked

Bank Failures

A major cause of the Great Depression where banks lost money due to stock market crash and led to mass withdrawals by customers.

Stock Market Crash of 1929

The event that triggered the Great Depression, leading to significant financial losses for investors.

Buying on Margin

A practice that contributed to bank failures where investors borrowed money to buy stocks, increasing debt.

Hoover’s Philosophy

A cautious approach to the Great Depression promoting less governmental involvement to avoid national debt.

FDR’s Philosophy

A proactive approach to the Great Depression advocating for increased governmental involvement and risk-taking.

Installment Buying

A purchasing method used during the Roaring 20s that contributed to personal debt and bank failures.

Laissez-Faire

An economic philosophy promoting minimal government intervention in financial markets.

National Debt

The total amount of money that a country's government has borrowed.