The 1930s and The Great Depression
To learn more about what it was like to grow up in the 1930s, it’s important to understand the causes of The Great Depression and how it affected people’s lives. Click on “Highlight It” to read a brief essay, “Causes of the Great Depression and Its Early Years” and then highlight the important information that answers the questions following the essay. You may want to review the vocabulary terms below before reading.
Vocabulary:
Credit—a system where customers can get goods and/or services before paying, with the understanding that they will pay in the future.
The Great Depression—the economic crisis and period of low business activity in the United States, roughly beginning with the stock-market crash in October 1929, and continuing through most of the 1930s.
New Deal—a series of government programs that focused on the “3 R’s”: Relief, Recover, and Reform. The New Deal lasted from 1933-1937, and helped give aid to people who needed it, employ the unemployed, and create regulations to prevent another depression from happening again.
Recession—a temporary decline in an economy; this period is marked by a decrease in production, employment, income, and trade. Recessions are a natural part of the business cycle; when recessions last for a long period of time, it becomes a depression.
Shares—a unit of ownership that represents part of a company’s assets; shares can be traded in the stock market.
