Great depression

Great Depression

A severe worldwide economic downturn that started in 1929 and lasted through the 1930s.

Stock Market Crash 1929

A significant decline in stock prices indicating systemic issues in the economy, not the sole cause of the Great Depression.

Buying on Margin

A practice in the 1920s where investors purchased stocks using borrowed money.

Overproduction

The condition where industrial capacity exceeded consumer demand, contributing to the Great Depression.

Reliance on Exporting Staples

Canada's economic dependence on a few staple products for its exports, making it vulnerable.

Economic Protectionism

Policies restricting international trade, leading to decreased markets for exports.

Dependence on U.S. Markets

Canada's heavy reliance on the United States, which sold 40% of Canadian exports.

Deficit Financing

The practice of funding government spending by borrowing rather than through taxation, proposed by Keynesian economists.

Unemployment Relief Camps

Camps where unemployed men worked on public projects in exchange for food and shelter.

Hoovervilles

Makeshift shanty towns built during the Great Depression, named after President Herbert Hoover who refused to provide relief.

Franklin D. Roosevelt

U.S. president from 1933-1945 who implemented the New Deal to counteract the Great Depression.

Bennett's New Deal

Canada's response similar to Roosevelt's New Deal, introduced in 1935 to reform economic policies.

On-to-Ottawa Trek

A protest by unemployed men traveling from Vancouver to Ottawa demanding jobs and better wages.

Pogey

A welfare program in Canada during the Great Depression providing vouchers for essentials.

Regina Riot

A confrontation that occurred in 1935 during the On-to-Ottawa Trek, resulting in a violent clash with police.

Keynesian Economics

An economic theory advocating for government spending to stimulate the economy during downturns.

International Debt after WW1

Debt incurred by countries after World War I, heavily impacting their economies during the Great Depression.

Tariffs

Taxes imposed on imported goods, which increased during the 1920s and contributed to economic protectionism.

Dust Bowl

Severe drought conditions in the 1930s causing significant agricultural failure and economic hardship.

Economic Collapse

The sudden decline in the economy leading to widespread unemployment and poverty.

Crisis of Confidence

The loss of faith in the economy by consumers and investors, exacerbating the Great Depression.

Shanty Towns

Improvised housing made from scrap materials, common during the Great Depression.

New Deal

A series of programs and reforms implemented by Roosevelt to address the Great Depression.

Public Works Projects

Government-sponsored construction projects aimed at providing jobs and improving infrastructure.

Labor Unrest

Discontent among workers leading to strikes and protests during the Great Depression.

Social Safety Nets

Government programs designed to provide financial support to individuals during economic hardship.

Freight Train Hopping

The act of traveling by freight trains, often used by unemployed men seeking work.

Protest Movements

Organized efforts by groups such as the unemployed to demand economic relief and job opportunities.

Welfare State

A government system that provides social safety nets and welfare programs to support citizens.

Economic Reforms

Changes made to economic policies in response to the challenges posed by the Great Depression.

Consumer Confidence

The degree of optimism consumers feel about the overall state of the economy.

Farm Subsidies

Financial assistance provided by the government to support farmers during economic downturns.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced.