We are closer to the end of poverty than at any point in our history

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We are closer to the end of poverty than at any
point in our history
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The Great Depression1929-1945

• Spark-Crash of The Stock Market-10/29/29
• Underlying Causes-
• Mass Production-too many goods produced, not
  enough demand
• Credit-too many goods bought that people could
  not afford, including stocks, On Margin
• Investing-inexperienced people put too much of
  their in the Stock Market-risky

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Wall Street
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Bull vs. Bear Market

• Market and Economy doing well

• Market and Economy doing poorly

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Bank Runs
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Okies
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Riding The Rails
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Hoovervilles
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Hoover Blankets
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Buy American

• Hoover signs the Hawley-Smoot Tariff
• Increasing Tariffs-Americans buy less foreign
  goods
• Foreign nations now had less to pay back war
  debt to US.

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Rugged Individualism
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Hoover Dam 1931-1936 Public Works
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Bonus Army
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A New Deal1933-1945
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The New Deal in Action - The 3 Rs

• Relief-Immediate help- to the people
• Recovery-temporary jobs
• Reform-permanent programs- Soc. Sec. FDIC
• These programs would be paid by
• Deficit Spending- Government Spends more than
  it takes in
• FDR was seen as taking action!
• People had a renewed confidence in government

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FDR Gets To Work Right Away

• Declares a Bank Holiday, Closing ALL Banks for 4
  Days
• Why?
• To Get to the banks!!

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Alphabet Soup

• AAA, CCC, FDIC, SEC, SSA, PWA, TVA, WPA,
• Nickname given to all these programs

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New Government Beauracricies are set up to assist
people in need

• CCC Gave public works jobs to young men
• FERA Gave relief directly to unemployed
• AAA Paid farmers NOT to grow certain crops
• PWA built ports, schools, aircraft carriers

• FDIC Insures deposits made to federal certified
  banks
• WPA Employed people to bulid hospitals,
  schools, parks, airports
• Social Security Act Insurance for elderly,
  unemployed, and disabled

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FDR and The New Deal Help Labor

• Wagner Act- allowed workers to BARGAIN
  COLLECTIVELY for what they wanted. (Unions hire
  representatives to bargain a contract for all
  members)
• Fair Labor Standards Act-
• Created Minimum Wage, Maximum Hours.
• .25 cents/44 hours a week originally.
• Currently 7.25/40 hours a week

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Minimum WagesGreen-higher, Blue-same,
Yellow-None, Maroon-Lower
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Court Packing
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Eleanor Roosevelt FDRs eyes and ears
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Why is FDR Elected 4xs?

• Seen as using government to help
• Feared change during crisis-Dep./WW2
• Confident attitude
• Support from new voters-
• Labor
• Women
• Minorities

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REVIEW Causes of the Depression

• 1 Weaknesses in the Overall Economy Overproducti
  on/underconsumption of consumer goods and
  Farming products
• 2 Unequal distribution of Income
• Not all social classes enjoyed boom of 20s
• 3 Excessive buying on Credit
• 4 Weak Corporate/Banking structures
• Corruption, high-risk investments, lack of
  preparedness for recession
• 5 Weak international Economy
• Europe dependent on U.S. economy after WWI

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Differences between FDR and Hoover

• Hoover
• Republican
• Believed the Free-Market system would correct
  itself
• Believed people should work through hard times
  (self-help/rugged individualism)
• Believed Govt should not make economic
  decisions (laissez-faire)

• Roosevelt
• Democrat
• Willing to give direct relief to people -
• Willing to allow Government to make economic
  decisions
• Deficit Spending

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The New Deal is a Major Turning Point in American
Government!

• The government became more involved in the
  economy and peoples lives!
• The New Deal Does Not End the Great Depression!
• World War 2 Does!!

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• Wagner Act, Fair Labor Standards Act, SSA, FDIC,
  Creeping Socialism, Rugged Individualism, Court
  Packing, TVA, AAA, CCC, Bonus Army, Okies,
  Hoovervilles, Hoover Blankets, Dust Bowl, Deficit
  Spending, Brain Trust, Relief, Recovery, Reform,
  public works projects