HIS271Y1 Lecture Notes - Lecture 17: Federal Deposit Insurance Corporation, Agricultural Marketing Act Of 1929, Dust Bowl
Document Summary
Depression lasts a decade, ww2 brings us out. Us went through a very mild recession, not noticed caused slight drop off in production of goods, slight decrease rate of sale productive capacity was so great that no one noticed. Federal reserve board makes more credit available after mild recession for investments most credit to stock market, speculation, obscure drops. Unequal dist of wealth, farmers suffer from chronic indebtedness. Or americans live less than 2k a year (poverty line) wealth was an illusion because much of economy was based on credit many americans deeply in debt before depression started. Us didn"t do much to help int"l economy post wwi high tariff wall to prevent imports. Us give germany money to pay britain who pays us lol. Thinking of most people at time shaped by irrelevant economic thoughts. Most public officials react by attempting to balance budgets. Slow economy b/c less money to be spent, no stimulus.
