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@jemoka / Jemoka Knowledge Base / wiki/concepts/causes_of_the_great_depression.md
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--- title: "causes of the Great Depression" type: concept related: [Economy Of Credit, Black Thursday, Tariffs, Demand Driven Theory, Monetarist Theory] source: https://www.jemoka.com/posts/kbhcauses_of_the_great_depression/ confidence: high status: active --- stock market crash of 1929 At October 24th, 1929, Black Thursday took place, and the stock market crashed. During this time, a record of 13 million shares traded, over $3b of losses. This began a 4 year slide of the global economy. Crash theories: demand-driven theory Monetarist theory bank failures of 1929 Banks became irrelevant. Lots of risky loans given out, farmers are taken out huge loans and the banks can’t deal. other factors economy of credit tariffs