The Great Depression Explained | How Money Works

About this episode

This episode explains the economic and cultural context of the Great Depression in America during the 1920s.

The Great Depression ExplainedDuring the 1920s, America was thriving. National wealth had doubled from the year 1920 to 1929, over 12 million households purchased radios, and electric refrigerators became widely available. The Ford Model T revolutionized travel, places such as motels, grocery stores, and movie theaters were now easily accessible, and large scale automobile companies created thousands of new jobs. Americans began moving into cities, people didn’t have to sew their own clothes, and citizens all across America began buying the same brands of food, listening to the same music, and doing the same dance (the Charleston). This became known as the “Roaring 20’s”Disposable incomes rose, families had more money, and everyone including line workers, janitors, the ultra rich, and even banks using consumer’s deposits started pouring money into the stock market. At a time with no Robinhood or Charles Schwab, investors had to visit brokerages in person to buy stocks. And with no Twitter or iPhones, important news about companies that happened after the morning newspaper would be distributed when a paperboy announced a mid-day “Extra.”#TheGreatDepression…

People in this episode

Host: How Money Works

Topics covered

• Great Depression
• Roaring 20s
• Stock Market
• Economic History
• American Culture

Keywords

• Great Depression
• Roaring 20s
• stock market
• economic history
• Ford Model T

Mentioned in this episode

Products: Ford Model T

Books & works: Charleston

Places: America

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