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The Great Depression and The New Deal b The Economy- trouble in paradise b The Crash of 1929 b Causes of the Depression b The Hoover Years b FDR and the.

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Presentation on theme: "The Great Depression and The New Deal b The Economy- trouble in paradise b The Crash of 1929 b Causes of the Depression b The Hoover Years b FDR and the."— Presentation transcript:

1 The Great Depression and The New Deal b The Economy- trouble in paradise b The Crash of 1929 b Causes of the Depression b The Hoover Years b FDR and the New Deal b The First 100 Days

2 1920s Prosperity b Telephone in use doubled

3 1920s Prosperity b Telephone in use doubled b Plastics, rayon, and cellophane available

4 1920s Prosperity b Telephone in use doubled b Plastics, rayon, and cellophane available b New Products: cigarette lighters, reinforced concrete, dry ice…and pyrex

5 1920s Prosperity b Telephone in use doubled b Plastics, rayon, and cellophane available b New Products: cigarette lighters, reinforced concrete, dry ice…and pyrex b More leisure time and paid vacations

6 Inequality of the Wealth in the 1920s b Real wages increased 21%

7 Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66%

8 Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66% b Richest 5% of population increased its share of the wealth from 1/4 to 1/3

9 Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66% b Richest 5% of population increased its share of the wealth from 1/4 to 1/3 b And the richest 1% controlled 20% of all income in the nation

10 Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66% b Richest 5% of population increased its share of the wealth from 1/4 to 1/3 b And the richest 1% controlled 20% of all income in the nation b 16 million lived below poverty level of $2000

11 The Stock Market Crash

12 b b b b b September peaked at 452 then started to fall b October ended up at 224

13 Herbert Hoover

14 Some Causes of the Great Depression

15 b Overproduction and underconsumption

16 Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth

17 Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth b Overextension of credit

18 Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth b Overextension of credit b The Smoot-Hawley Tariff

19 Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth b Overextension of credit b The Smoot-Hawley Tariff b A series of natural disasters- The Dust Bowl

20 Hoover’s approach to the Depression b Top down- give money to businesses and banks, to create jobs (trickle-down economics)

21 Roosevelt and the New Deal b The 100 Days b The National Recovery Act (NRA) b The Tennessee Valley Authority (TVA) b The Safety Net b Nine Old Men- The court-packing scheme b Keynes and Deficit Spending b The New Deal Reassessed

22 Franklin Delano Roosevelt

23 Depression Scenes

24 Food Lines

25 Hooverville

26 Migrant mother and family

27 The Three “R”s of the New Deal

28 b Relief of Human suffering

29 The Three “R”s of the New Deal b Relief of Human suffering b Recovery of the Economy

30 The Three “R”s of the New Deal b Relief of Human suffering b Recovery of the Economy b Reform (to prevent it from happening again)

31 The New Deal The 100 days

32 b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC

33 The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps

34 The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA)

35 The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA) b Agricultural Adjustment Act (AAA)

36 The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA) b Agricultural Adjustment Act (AAA) b Home-owners Loan Corp. (HOLC)

37 The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA) b Agricultural Adjustment Act (AAA) b Home-owners Loan Corp. (HOLC) b Civil Works Agency (CWA)

38 National Recovery Act

39 b Price fixing and codes of fair competition

40 National Recovery Act b Price fixing and codes of fair competition b Minimum wages and maximum hours

41 National Recovery Act b Price fixing and codes of fair competition b Minimum wages and maximum hours b Section 7a- Gave organized labor right to organize and bargain collectively

42 National Recovery Act b Price fixing and codes of fair competition b Minimum wages and maximum hours b Section 7a- Gave organized labor right to organize and bargain collectively b The Public Works Administration (PWA) spent $4 billion on 34,000 projects

43 The Tennessee Valley Authority

44 b Conservation

45 The Tennessee Valley Authority b Conservation b Govt. entered power-producing business

46 The Tennessee Valley Authority b Conservation b Govt. entered power-producing business b Served as a yardstick to see if private utilities were charging too much

47 The Tennessee Valley Authority b Conservation b Govt. entered power-producing business b Served as a yardstick to see if private utilities were charging too much b Produced Cheap Electricity

48 The Tennessee Valley Authority b Conservation b Govt. entered power-producing business b Served as a yardstick to see if private utilities were charging too much b Produced Cheap Electricity b Provided full employment for poor area

49 The Social Security Act of 1935

50 b Unemployment Insurance

51 The Social Security Act of 1935 b Unemployment Insurance b Plan for old-age pensions

52 The Social Security Act of 1935 b Unemployment Insurance b Plan for old-age pensions b Provisions made for disabled and dependents

53 John Meynard Keynes b British economist who advocated massive deficit spending by the government to jump start the economy (Keynsian Economics)

54 Criticism of the New Deal

55 b Creeping Socialism

56 Criticism of the New Deal b Creeping Socialism b Wasteful

57 Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending

58 Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy

59 Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy b Government had gotten too large

60 Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy b Government had gotten too large b Said FDR was pampering labor unions

61 Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy b Government had gotten too large b Said FDR was pampering labor unions b Failure to end the Depression

62 New Deal Sucesses

63 b Relief

64 New Deal Sucesses b Relief b FDR probably saved capitalism by staving off a possible revolution

65 New Deal Sucesses b Relief b FDR probably saved capitalism by staving off a possible revolution b Provided a stable government

66 New Deal Sucesses b Relief b FDR probably saved capitalism by staving off a possible revolution b Provided a stable government b Provided the foundations for the modern welfare state- the Safety Net !


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