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TheGreatDepressionof192939wasthemostsevereeconomiccrisisofmoderntimes.Millionsof
peoplelosttheirjobsbothintheUnitedStatesandabroad.Manyfarmersandbusinesseswere
bankrupted.Industrializednationsandthosesupplyingprimaryproducts(foodandrawmaterials)
wereallaffectedinonewayoranother.
DocumentA
:
ThisphotowastakenintheUnitedStatesduringthe1930sattheheightoftheGreatDepression.FrankRarig
wasabigwiginthesteelcompany.Hehadfivechildren,twogirlsandthreeboys.Althoughhisindustry
boomedduringWWIandsurelydeclinedduringtheGreatDepression,thisimagesuggeststhatheandhis
familylivedalotbetterthanmanyotherAmericans.
1)Readtheitalicizedintroductionabovethepicture.WhoisRarigthattheyoungchild
references?
Abigindustryguythatwasdoingbetterthanalotofamericansinthegreatdepression.His
familywasbetteroffandnotstarvingunlikeothers.
2)WhatdoesthistellyouaboutwhatishappeninginthetheUnitedStatesatthistime?
Peopleareverypoorandcantgetjobsandarestarvingbecauseofit
3)WhatdoesthistellusabouttheeffectsthattheGreatDepressionhadondifferentgroups
Americans?
Somewerestillokayduringthistimeperiodbutotherswereverybitterandupsetthatthey
hadtosufferandothersdidnt.
4)DoyouthinktheGreatDepressiononlyaffectedtheUnitedStates?Whyorwhynot?
NoitwasaworldwidethingbecausetheUSwashelpingGermanytopayofftheirloanswhich
gavemoneytotheothercountriesandwithouttheUStheyhadnomoneytogive.
DocumentB:GDPPerCapitainInternationalDollars
TheGrossDomesticProduct,orGDP,referstothetotalmarketvalueofallfinalgoodsandservicesproduced
withinthebordersofacountryinoneyear.AcommonequationforGDPis:GDP=consumption+investment
+exportsimports.BecausetheGDPisthevalueofacountrystotaloutput,itisoftenusedtogaugethe
economichealthofthenation.GDPpercapitaisGDPdividedbythepopulationandindicatestheaverage
standardoflivinginacountry.
Franc
e
India
Malaysia Chile
Mexico
USSR Germ
any
U.S.
1,682
3,396
1,757
1930 4,532
726
1,636
3,143
1,618
1,548
2,333
1,643
1,397
2,274
1,373
1,440
2,652
1,501
1,540
2,987
1,574
1,364
3,056
1,660
1,478
3,056
1,768
1,308
3,241
1,796
1,361
3,139
1,794
1,609
3,178
1,858
1.Onaverage,whendidmostcountrieshitbottomduringtheGreatDepression?
Between1932and1935
2.WhichcountryexperiencedthesteepestdeclineinGDP?
Germany
3.Unlikealltheothers,onecountryactuallyexperiencedasteadyincreaseinGDPpercapitaduring
theGreatDepression.Whichcountrywasit?
USSR
DocumentC:
AsaresponsetotheGreatDepression,Britainpassedhighprotectivetariffsandincreasedtaxes.Belowisa
pictureofthe1930SaltMarchtoDandiinIndialedbyMohandasGandhi(manwithglasses).Sufferingfrom
theimpactoftheGreatDepression,thousandsofpeoplejoinedGandhisnonviolentprotestmarchagainstthe
Britishtaxonsalt.
1)Usingevidencefrom
BOTH
DocumentBandDocumentCtoexplaintheeffectsoftheGreat
DepressiononIndia?
Theybecamepoorandcouldntaffordmanythingsandpeopleweredyingofstarvation
2)ReferringbacktoDocumentB,whatotherdeveloping(ornonindustrialized)countriesinadditionto
IndiadidtheGreatDepressionimpact?
Germany,France,Malaysia,US,Mexico,Chille
DOCUMENTE:UnderconsumptionAfterWWI
ThefollowingisanexcerptfromthetextbookModernWorldHistory,explainingtheeffectsof
underconsumptioninAsiaandLatinAmerica.
InAsia,theJapaneseeconomyalsoslumped.Japanesefarmerssufferedgreatlyduringthe
Depression....Cityworkerssuffered,too,asthevalueofexportsfellbyhalfbetween1929and
1931.Asmanyas3millionworkerslosttheirjobs,forcingmanytogobacktotheirrural
villages..
TheeconomiccrisisfellheavilyinLatinAmericaaswell.Manyofitsnationsweretiedtothe
globaleconomybytradeinsuchcashcropsorrawmaterialsassugar,beef,copper,and
tin...AsEuropeanandU.S.demandforLatinAmericanproductsdriedupinthe1930s,prices
forthesegoodscollapsed.
1. Whydidexportsfallbyhalfbetween1929and1931inAsiaandwhatwasa
consequence?
Noonewasbuyingtheirproductsanymoresotheywerentmakingmoney.
2. WhydidEuropeanandU.S.demandforLatinAmericanproductsdryupinthe1930s
andwhatwastheconsequence?
TheyhadnomoneytopayfortheproductssotheUSwasshortofproductsandLatin
americanswerentmakingmoney.
SYNTHESIZINGTHEDOCUMENTSBYREGION
Directions:UsethedocumentsfromthislessonANDthepreviouslessonandcompletethechartbelowforeach
ofthefollowingregions.Identifyatleastonecauseandoneeconomicconsequenceforthedepressionineach
region.*YOUMUSTIDENTIFYTHEDOCUMENTTHATYOUGOTYOUREVIDENCEFROM!!*
COUNTRY
CAUSE
ECONOMICCONSEQUENCE
Germany
AccordingtodocumentsA2and
B2,Germanyprintedexcessive
amountsofmoneyafterbeing
forcedtopayreparationpayments
totheAlliesintheTreatyof
Versailleswhichresultedin
hyperinflation.
AccordingtodocumentB2,an
economicconsequenceofthe
depressioninGermanywasthe
priceofbasicfoodlikebreadcost
600billionmarksbecauseof
hyperinflation!
India
AccordingtodocumentsBandC,
IndiawasgoingdowninGDPand
theBritishwereputtingtaxeson
salt.
AccordingtodocumentsBandC
theythenwerebecomingalot
morepoorandrevoltingagainst
Britishbecauseofthetaxonsalt.
Chile
AccordingtodocumentDAmerica
andothercountriesstopped
buyingCopperandNitratefrom
Chile.
AccordingtodocumentDChile
wasthenlosingmoneyand
becomingpooralongwithlosing
theirjobsbecausenoonewas
buyingtheirproducts,
U.S.
AccordingtodocumentsAandD
Americasstockmarketwas
crashingandeveryoneneeded
money.
AccordingtodocumentsAandD
teybegantolosemoneyandjobs
andthenwerenotabletopayfor
foodandsomestarvedtodeath.
Japan
AccordingtodocumentEJapans
exportsdeclined
AccordingtodocumentEthey
begantolosemoneyandjobsas
wellbecausetheywerenotselling
anyproducts.
Malaysia
AccordingtodocumentB
MalaysiahadaGDPdecline.
AccordingtodocumentBthey
werebeingaffectedbytheGreat
Depressionandlosingmoneyand
jobs.