1930's+Business+and+Economy

__**//Business and Economy//**__ Business and economy are one of the most important things to strive in a good country. In the times the of 1930's, there was much difficulty in the world of business and economy. Businesses were trying hard to not fall down into the clutches of the Great Depression. Since the Great Depression was going on, the economy flew downhill. The percentage of unemployment went from 3% to 25%.

Deutsches Bundesarchiv (German Federal Archive), [|Bild 146-1998-010-12]

[] (Originally from Valokuvaamo Hellas, Archive of Museum of Central Finland) =toc Business =

In the 1930's [|business] was not going so well. It fully escaped the consequences of the Great Depression until 1929-1932. Industrial production was halved and unemployment soared from 3% to 25%. From 1929-1932, businesses failed and over 5,000 banks have failed.

=Banking and Finance =

During the 1930's, the [|banking] and [|finance] industry was going down. The [|stock market] crashed, and people were trying to withdraw all of their life's savings. The banks had growing difficulties as the customers defaulted on loans. Many businesses were even in dept, too. The [|banking] system was unsound, they could not meet up to their customers standards. People were unemployed and were out on the streets.

=Automobile Industry =

The automobile industry became the largest business, contributive to the country's economy, but also to its transportation. This is how it is by the asembly line. It is the mass production of cars in a line where each person standing at the asembly line has a certain job to do in a certain time to finish. The United Sates have 85% of the world's auto manufacturing and 10% is shipped to foreign markets. In 1929 alone, around 4.5 million cars were sold, about 1 car for every 25 Americans. This industry played a major part of the mobilization in World War 2. Automobile sales went down by three-fourths during 1929-1932, and productions, profits, and employedment plummented too. Car prodution was 15,000 a week, but dropped to a mere 150 a week. After the car sales dropped by half in 1937-1938, the industry was rolling again, with a total of 4 million vehicles by 1941. =Economy = Economy is the wealth and resources of a country or region. In the 1930s the economy spiraled down for the wrong reasons due to the stock market crash in 1929. Industrial productions halved and unemployedment went from 3% to 25%. More than 100,000 businesses failed and more than 5,000 banks failed. In the 1930s the stock market crashed and that led to the Great Depression. = = =Stock Market Crash = The [|stock market]crashed in 1929 in late October, it was the end of prosperity and the beginning of a long Great Depression. The reason the stock market crash was that in 1929 the stock prices were so high that no one wanted to spend their hard earned money on them. People would only sell and not buy. Many savers tried to withdraw all their savings from banks, which led many banks to close their doors. Then the Great Depression began. =Great Depression = After the stock market crash the Great Depression went in to place leaving many people unemployed and homeless. It was the worst economic collaspe in American history with business lost, prices dropped and income fell. In 1933 13 million people were unemployed, one fourth of the job force. Being unemployed threw families into chaos, trigger desertion, or even commit suicide.

By: Thanh Nguyen and Vien Vu  Citations Jeffries, John W. "economy, 1929–1945." In Jeffries, John W., and Gary B. Nash, eds. //Encyclopedia of American History: The Great Depression and World War II, 1929 to 1945//, Revised Edition (Volume VIII). New York: Facts On File, Inc., 2010. //American History Online//. Facts On File, Inc. http://www.fofweb.com/activelink2.asp?ItemID=WE52&iPin=EAHVIII079&SingleRecord=True (accessed January 5, 2012).


 * 1) 2 Pederson, William D. "Wood, Grant." //The FDR Years//, Presidential Profiles. New York: Facts On File, Inc., 2006. //American History Online//. Facts On File, Inc. http://www.fofweb.com/activelink2.asp?ItemID=WE52&iPin=TFDRY274&SingleRecord=True (accessed December 8, 2011).

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