Great Depression (1 Okt 1929 Jahr – 1 Jan 1939 Jahr)

Beschreibung:

After the stock market crash in October of 1929, Wall Street was sent into panic which wiped out millions of investors. This was all due to the American economy growing with rapid expansion, leaving stock prices higher than their worth in the early 1920’s. Whilst 15 million Americans were left unemployed in 1933, for other wages were set lower. A mild recession lead to Franklin D. Roosevelt being elected as president who assisted in the building of the economy. Employing 8.5 million, the dam and hydroelectricity projects played a large part in the rebuild. As an effect of it, in 1935 America passed the Social Security Act and made disability, unemployment and old age pensions. Unfortunately, as soon as the great depression ended, WWII began and America joined.