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Created with Fabric.js 1.4.5 The Great Depressi on Policies put in place to repair an economic depression in Australia Loss of territories - productive land,industries and raw resources 3. 2. Steep declines in industrial output 1. 20% of the American population unemployed Strategies of prevention Our econom y The Great Depression of 1929-39 began soon after the stock market crash known as 'Black Thursday' that wiped out millions of investors. Product value declined Block immigration This protects the jobs and wages of Australian citizens providing less competition. Immigration fell to 10-15% Federal spending Escalation in government spending over the period of time in which the depression occurs. Approximately 50% Lower taxes During recessions, the government will occasionally offer a tax cut as an economic stimulus. In rough terms, a tax cut of one trillion dollars over ten years will "give back" an amount equal to about one percent of consumer spending annually over that period. Economists show that the largest contributing factor to the Great Depression going worldwide was the 'International Gold Standard' this allowed the Depression to most developed countries. During to Great Depression Hoover actively intervened, advocating policies that were similar to Roosevelt's, and extended the role of the federal government in six varying areas. Federal spending Immigration Agriculture International trade Wage policy Tax policy Decreasing interest rates encourages more consumers to spend rather than save. As interest rates lower so do the required payments on mortgages. Therefore there is more money to spend on other areas. Meaning the Economy will increase.
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