HIST 253 Lecture Notes - Lecture 7: Hooverville, Classic Case, Smoot
Document Summary
Lecture a) the great depression & public policy. Lecture a: the unprecedented scope of the depression, 1929: defied all previous experience, never before up to 30% of population been unemployed for so long 6-10 years, unprecedented in swiftness, severity and duration. Prior to gb, economies were more fluid, 1873 worked itself through international economy through a few years: occurred right after a long period of economic growth and expansion in na and sa 20s were boom years. After a rocky start after first world war, most of. Europe was expanding by mid 1920s, but at its worst point: some estimate that. 40% of all germans out of work, 25% of na, 20% of british, only 10% french (more shielded from international competition and more rural less urban industrial). Which was slowly happening in 20s: crisis of overproduction of mass durable goods, especially in us: too many cars and fridges being built. Hawley smoot 1930s tariff (named after people in congress).
