Causes and Global Consequences of the Great Depression

Miacademy & MiaPrep Learning Channel

This educational video provides a comprehensive overview of the Great Depression, examining its root causes, the mechanisms of the economic collapse, and the subsequent global impact. It moves beyond the stock market crash to explore structural weaknesses in the 1920s economy, such as income inequality and agricultural overproduction, while explaining complex financial concepts like "buying on margin" in accessible terms. The video illustrates the cyclical nature of economic depression, showing how a downturn in one sector led to layoffs and reduced consumption, spiraling into a wider crisis. It also highlights the international scope of the Depression, connecting American bank failures to economic struggles in Europe, Asia, and Latin America. This global perspective helps students understand the interconnectedness of modern economies. Finally, the video compares how different nations responded to the crisis, contrasting the approaches of Great Britain and Scandinavia with Franklin D. Roosevelt's "New Deal" in the United States. This comparative analysis makes it an excellent resource for history and economics classrooms, offering teachers a solid foundation for discussing government intervention, economic policy, and the resilience of democratic institutions during times of crisis.