Unit+V+-+GD+&+ND+-++P4

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 * =The 1920s was a decade of entertainment, happiness, crowds dancing (swing), going to sporting events, jazz music, new inventions like radio, illegal activity (breaking prohibition laws), ECONOMIC PROSPERITY - lots of jobs, money, business growth. Known as the Roaring 20s.=
 * =But, in 1929 the stock market crashed and the economy crumbled.=
 * =The 1930s (the Great Depression) was a decade of poverty, depression, unemployment (joblessness), desperation, homelessness, bankruptcy...AND...technological innovations continued, FDR became President and enacted the New Deal to try to fix the problems of the GD.=

= BOOM AND BUST CYCLES of capitalist economies. 1920s BOOM...1930s BUST.= =Busts often occur due to overexpansion and overproduction - business make too many products that don't get sold and they have wasted their money. They wind up losing money and having to lay off workers. That is usually one part of bust cycles.=

=Another part of bust cycles usually is bad banking practices.=

= EMBEDDED NOTES HERE - GOOGLE DOC =

=__Top 5 Causes of the Great Depression__=

5.
= Marked up reading on the Great Depression - how things go so bad =

D. Key Concepts so far (before the New Deal):

 * 1) ===What were the 1920s like?===
 * ==The Roaring '20s==
 * ==fun, music, dancing==
 * ==women - more partying, short hair, shorter dresses, new roles in society==
 * ==Prohibition - 18th Amendment - banned alcohol==
 * ==Cities continued to grow==
 * ==Great Migration - many African-Americans moved from the South to the North==

=2. Why did the economy start to tank in the late '20s and get really bad in the early 30s (multiple reasons)?= = = =3. What were the key characteristics of the Great Depression? (List the problems with descriptions and DATA)=
 * ==Lots of buying on credit==
 * ==Stock Market Crash==
 * ==Bank Failures==
 * ==Drought conditions==
 * ==Bad government policy==
 * ==Overproduction by businesses==
 * ==poverty / unemployment==
 * ==farm bankruptcies - The Dust Bowl==
 * ==ineffective government under Hoover==
 * ==deflation - prices dropped - consumerism slowed waaaaaaaaaaaay down==
 * ==emotional difficulties for Americans - people were miserable, guilty, angry, helpless, useless. etc.==
 * ==homelessness and hoboes==
 * ==unstable stock market==
 * ==unstable banking system==
 * ==business failures==

4. Who was president when the economy went bad and what did he try to do? (use specific terms)
=== A. What were his political and economic philosophies? What is a philosophy?===

==** Herbert Hoover was president from 1929-1933. He became president in March, 1929 and the stock market crashed in October - 7 months later. Hoover did not cause the crash or the Depression, but he also didn't really help address either. **==

** Philosophy: set of beliefs and ideas **
=** Hoover was a Republican, a Conservative, and he believed in laissez faire capitalism. **=
 * =**Republican - Hoover believed in lower taxes, helping big businesses, social Darwinism.**=
 * =Conservative - Hoover was against a lot of change, he believed in traditional ways of doing things.=
 * =Laissez Faire capitalism - Liassez Faire is French for "leave alone" or "let be" - as an economic philosophy it means for the government to let the economy function on its own - the government does not get very involved in the economy - not a lot of rules or regulations.=
 * =Hoover Video:=

=__Hoover's Attempts to Aid the Economic Crisis__=


 * =Smoot-Hawley Tariff - an Act by Congress to raise taxes on imports (goods from other countries) so that foreign goods became more expensive and Americans would buy American made goods...sounds good...BUT...this led to a problem - other countries passed tariffs on American goods and global trade slowed waaaaaaay down=
 * =RFC - gov't agency to give loans to struggling banks, businesses, railroad companies, etc.=
 * =Hoover Dam & other public works projects -FINISH FOR HW....=
 * =Hoover Dam & other public works projects -FINISH FOR HW....=
 * =Hoover Dam & other public works projects -FINISH FOR HW....=

=5. A. The Presidential election of 1932 was Herbert Hoover (R) vs. Franklin Delano Roosevelt (D) - a.k.a. FDR - inaugurated in March of 1933=

=B. FDR was a Democrat and a liberal - more willing to accept change and implement government involvement in the economy=

= G. Major New Deal Programs =

=B. Emergency Banking Act= || =A.= =B.= ||
 * =Great Depression Problems= || =Major New Deal Programs= || =Program Descriptions= ||
 * =1. Banking= || =A. Bank Holiday=
 * =2. Unemployment= || =A. CCC= ||  ||
 * =3. Farm failures/bankruptcies= || =A. AAA= ||  ||
 * =4. Business bankruptcies= ||  ||   ||

media type="custom" key="8837332"

= = || = PERCENT UNEMPLOYED = = = || =ANALYSIS= ||
 * = YEAR =
 * 1929 || 3.2 || * Economy is good
 * Stock market crash - Oct '29 ||
 * 1930 || 8.7 || * things start to unravel ||
 * 1931 || 15.9 || * economy is getting worse and worse ||
 * 1932 || 23.6 || * more and more businesses closing, etc.
 * FDR defeats Hoover, becomes president ||
 * 1933 || 24.9 || * 25% unemployment is really high, worst of the GD
 * FDR takes office, New Deal begins - banking addressed first, then unemployment
 * SIDE NOTE: Hitler takes power in Germany ||
 * 1934 || 21.7 || * more and more jobs programs
 * progress starts to be made ||
 * 1935 || 20.1 || * WPA - lots of jobs
 * Social Security - major changes ||
 * 1936 || 16.9 || * unemployment #s getting better and better
 * FDR reelected as president ||
 * 1937 || 14.3 || * best unemployment % during the New Deal
 * Govt starts to pull back on the spending on jobs programs ||
 * 1938 || 19.0 || * Unemployment jumps back up due to fewer gov't jobs programs ||
 * 1939 || 17.2 || * WWII starts in Europe - countries start to buy more war supplies from the U.S. ||
 * 1940 || 14.6 ||  ||
 * 1941 || 9.9 || * Japan bombs Pearl Harbor and the U.S. enters WWII ||
 * 1942 || 4.7 || * Lots of jobs as soldiers or in factories - Great Depression OVER ||
 * 1943 || 1.9 ||  ||
 * 1944 || 1.2 ||  ||
 * 1945 || 1.9 || * WWII Ends ||
 * 1946 || 3.9 ||  ||
 * 1947 || 3.6 ||  ||
 * 1948 || 3.4 ||  ||

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