Notes
- Dow Jones Industrial average collapsed
- Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
- People threw themselves out of buildings
- Businesses go bankrupt
- Depression begins
Video
Summary
When the market collapsed people began to sell there stock as fast as they could. Because the stock was so low people threw themselves out of buildings because they didn't want to have to deal with having no money as the depression began.
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Political Cartoon
Quotes
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy. - Milton Friedman
Subjunctive Question
What would have happened if the stock market didn't crash?