AGD1D

What Caused the Great Depression?

1) Stock market crashed 2) New technology -> Increased agricultural production -> World-wide overabundance of products -> Decrease of prices 3) Massive bank failure -> Companies fire workers -> Workers become pay-less -> Workers cannot afford to buy anything -> Companies fail 4) Unequal distribution of wealth -> Rich people hoard their money -> There wasn't much money for the poor people -> gov. prints more -> money decreased in value 5) A large tax was put on imported goods 6) US demands lent money back from Europe because its economy was falling -> Pulled other countries down with itself

By Shawn Hyun Allison Minhee