AGD3D

3. What impact did Great Depression have on societies all over the world?

Great Depression contributed greatly to the world's economic downfall, especially in America. A huge number of people lost their houses and jobs due to the close-down of thousands of factories and banks. Millions of people lost their money and thousands of people lost their farmlands because they were not able to pay the mortgage. By 1933, over one-fourth of American workers lost their jobs. One-fourth of American citizens were unemployed. Consumers were afraid to spend money, and therefore the exchange of money was not circulating. Due to these factors, America's economy was declining more and more.