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Great Depression


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Causes of the Great Depression-explain
-Consumerism society and optimistic, -International Relations: U.S. demanded payment of WW1 loans -Europeans wouldnt buy American things -Coolidge didnt do anything -Differences in income: 42% below poverty level, 1% had 30% of the wealth.
" Leadership of 1920s
Calvin Coolidge
" Stock Market Crash
October, 29, 1929
Effects of the Great Depression " Impact on people -
*Eviction, *Farms and houses foreclosed, *Hoovervilles: camps for homeless *Migratory workers: people move for work *Bonus March of 1932
" Impact on economy-
*Lost confidence in economy *Businesses reduced production or just closed down *Unemployment *Banks closed *Reduced purchasing power *Created a continuing cycle of depression
" FDR's point of view /plans
Change everything, act quickly. He would have a Brain Trust and 3Rs: Relief Recovery Reform.
" Hoover's point of view /plans-
Do nothing, let it figure itself out. (Laissez-faire) He would voluntarily limit production and keep the Gold Standard.
1. Civilian Conservation Corps (CCC): jobs for young men: conserved natural resources. 2. Federal Emergency and Relief Administration (FERA):direct relief (money, clothes) to people. 3. Works Progress Administration (WPA): gave jobs building public b
1. Tennessee Valley Authority (TVA): helped the valley by controlling floods and providing electricity. 2. National Recovery Administration (NRA): set industry codes for production, wages, prices and working conditions. 3. Agricultural Adjustment Act (
. 1. Federal Deposit Insurance Corp. (FDIC): insured saving accounts in government approved banks. 2. Social Security Act: pensions for retired workers unemployment insurance, welfare.
Federal Deposit Insurance Corp
Agricultural Adjustment Act)
National Recovery Administration
Tennessee Valley Authority
Works Progress Administration
Federal Emergency Relief Administration
Civilian Conservation Corps
Criticism of New Dealexplain
-Seen as socialistic -Unconstitutional -Against American self-reliance -Called FDR a dictator - Deficit spending
Support for New Dealexplain
-Stretched constitution to fit needs of time. -Offered immediate help to needy -Fixed problems that led to the depression -Increased optimism.
End of the Great Depressionhow and why?
-The pace of legislation slowed -Supreme Court upheld important programs like Social Security -Fair Labor Standards Act: set minimum wage and a 40 hour work week. WW2
Legacy of the New Dealhow does it still affect us today?
-U.S. Government helps with economic problems -Created a welfare state with Social Security -Many programs are still around today

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