What is a “Depression”? Is about money and the economy Worse than a ‘recession’ Usually a world wide event Usually occurs by too much borrowing on credit Money stops flowing, so people and governments stop buying, so there are fewer and fewer jobs which causes more money to stop flowing and the cycle continues Usually ends when the world economy slowly recovers

What caused the Great Depression? 1920s were a boom time for the world. After the first world war, everyone was enthusiastic and optimistic about the future. New inventions were starting to make their way into homes. Eg. some homes were beginning to get electricity and telephones. More cars were being seen on the roads. In 1929 the Wall St financial markets ‘crashed’. Banks ran short and closed. The flow of money began to get critically slow Australia’s foreign debt was very high. The Great Depression did not end until the late 1930s.

What was it like for men? Used to being the ‘bread winner’ Wages fell 1 in 3 men lost their jobs and ability to provide for their families Long queues for jobs Many had to ‘go on the road’ searching for work and would try to send money home

What was it like for women? Had to survive and make do without the ‘breadwinner’ when husbands went on the road Families were often evicted and ended up in shanty towns Worked extremely hard to make every scrap of food count and every piece of cloth useful Lived with shame of being on the ‘susso’

What was it like for children? Many suffered from malnutrition and disease Being evicted meant missing and changing schools a lot Many had to scavenge streets, scrap yards and garbage dumps School lunch was often only meal of the day Made do with patchy clothes Teenagers had their future plans scrapped so they could help their family survive.

What was it like for charities? Church groups and charities became overwhelmed with the amount of people needing help Helped schools provide lunches for children Would organize clothing and food drives Ran orphanages for children with no parents to care for them

What was it like for the government? Provided ‘the susso’ for some families but this was very hard to get and many families were ashamed of receiving welfare Agreed to the lowering of wages so some jobs could be saved but still 1 in 3 men lost their jobs Gave some assistance to the charities and churches who were helping families

How is this connected to today? The Global Financial Crisis that has been in the news so often reminds many people of the Great Depression and many people feared that Australians would have to endure such harsh conditions again. Thankfully, this crisis has not been as bad as back in the 1930s. Learning lessons from the past, our government has taken steps to keep money flowing in the community so that unemployment will not get as bad as during the Great Depression.