The Great Depression

  • Stock makets dropped ~80% from 1929 to 1932
  • Some viewed it as a "Crisis of Confidence"
    • Federal Government & Private Actions were coordinated to restore investor confidence
    • Nonetheless, banks failed, markets stayed depressed, etc. (suggested these efforts may not have worked)
  • Countries reacted by becoming increasingly protectionist
    • Also lead to a rise in populism (Hitler & Mussolini)
    • Tariffs enacted ended up making the depression worsecv