HISTORY 142A Lecture Notes - Lecture 19: Exodusters, Stock Market Crash, Parched
Document Summary
The larger picture: 1929: crash on wall st. ; new york crowds stunned by news symptom, not cause of great depression. This is what most people think the cause of the great depression is. Super dramatic event on wall street and around the country. Not the cause, contributing factor at the best: advertising, art, hollywood provide images that challenge/reaffirm the struggles going on during the depression, in 1920s, there"s consumer spending going through the roof, unregulated markets and banks. Ends in the great depression: what economists think that we learned from this is that government spending can ameliorate worst aspects of the depression. Not going to happen for years into the 1930s when the us government finally gets involved in putting lots of money into the economy: certain effects of the great depression very sudden. Stock market crash, like 1000 banks in the us failed (impacts banks and everyone who had invested in those banks)
