THE ROAD TO RECOVERY Christina Fisher
THE ROAD TO RECOVERY
Christina Fisher
Background The 1920s were a time
of luxury and industrial high
Credit became available for the American public
The Stock Market reached an all time high in September of 1929
The Stock Market Crash
The Stock Market crashed on October 29th, 1929, aka Black Tuesday
The country was in panic Stocks sold for nearly nothing In the next three years over 14 million people were unemployed
Causes of the Stock Market Crash
Increase business’ profit by consumerism
No increase in employee’s salary Overproduction of goods Federal Reserve didn’t apply credit
breaks
Theories to Recovery
NEW DEAL PROGRAM
ENTRY IN WORLD WAR II
VS.
President Roosevelt’s New Deal Program
Only provided temporary jobs Focused on employed, by setting
minimum wage & maximum hours Helped with recovery but not enough
Forms of Recovery from Entering WWII
1. Creation of Jobs2. Increased Spending Money3. Restored Trust
The Impact From The New Jobs Created
1.Lowered the unemployment rate to below 10%
2.Women now worked “male” dominated jobs
3.Number of employed women rose 25- 30%
Increased Consumer’s Spending Money
Consumers now had a disposable income This increased spending Businesses were making a profit Stock Market recovered faster
Restoring The Trust Between The Government & It’s People
Everyone in the country shared a goal United through working for the total war
effort Nationalism grew
The Great Depression to The Great Recession
The Great Depression Government
involvement made it a slow recovery
Entering WWII sped up recovery dramatically
The Great Recession The government
enforced a bailout plan
After the plan it still took over a year to recover
Would a entering war have helped recovery from the Great Recession?