THE GREAT DEPRESSION PART 1

📋 Course Outline

1. Stock market crash: Black Thursday and Tuesday
2. Buying on margin and stock market collapse
3. Long-term causes: overproduction and protectionism
4. Laissez-faire banking failures and rising debt
5. Immediate effects: unemployment, wage cuts and starvation
6. Homelessness, evictions and Hoovervilles
7. Charity and relief schemes during the Depression

📖 1. Stock market crash: Black Thursday and Tuesday

🔑 Key Concepts & Definitions

• Black Thursday : Black Thursday is the first major day of the 1929 stock market crash when selling accelerated and prices collapsed.
• Black Tuesday : Black Tuesday is the 29 October 1929 day when the stock market collapse became complete and the economy’s collapse was finished.
• Stock market crash : A stock market crash is a sudden collapse in share prices that destroys investors’ wealth and triggers wider financial panic.
• Speculation : Speculation is buying and selling shares hoping their value will rise so they can be sold for profit.

📝 Essential Points