Behavioral Objectives and Formative Evaluation
The Great Depression began in late 1929 and lasted for about
Main causes for the Great Depression:
- the combination of the greatly unequal distribution of wealth
throughout the 1920s which in turn created an unstable economy
According to a study done by the Brookings Institute, in 1929
the top 0.1% of Americans had a combined income equal to the
bottom 42%2. That same top 0.1% of Americans in 1929 controlled
34% of all savings, while 80% of Americans had no savings at
Henry Ford reported a personal income of $14 million in the same
year that the average personal income was $7505. By present day
standards, where the average yearly income in the U.S. is around
$18,5006, Mr. Ford would be earning over $345 million a year.
- the extensive stock market speculation that took place during
the latter part that same decade
Interesting facts about the Depression:
- Unemployment grew to five million in 1930, and up to thirteen
million in 1932
- School and Society's "A Survey of Unemployed Alumni"
(1934) revealed that, of the graduates of 54 institutions, 21,974
were without jobs.