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The Economy of The 1930
Transcript of The Economy of The 1930
Social Cultural Programs Designed to Curb the Effects of he Great Depression Recovery and End of the Great Depression
What finally ended the Great Depression? That question may be the most important in economic history. If we can answer it, we can better grasp what perpetuates economic stagnation and what cures it. Governmental Effects Economic Effects
Trade Collapse---The decrease in tax revenue, profit,
and personal income and effected the world internationally because both the suppliers and the buyers began to reduce
their spending which led to the reduction in available money for government spending.
Reduction In Government Spending---
Because consumer demand had dropped, the government stopped spending money on products and funding. This led to the decrease in job opportunity because no one wanted to buy company products.
Workers had a hard time finding jobs because less jobs were available because of the reduction in consumption. Agricultural Effects
Though the one product
needed around the world was food, it was still difficult to
maintain stable production.
Managers of grocery stores and food chains were no longer able to afford to have food shipped and organized. This led to a decrease in good paying food handling jobs. An environmental disaster also came at the wrong
time in this decade. In 1934,
many producers of agricultural products faced a huge drought that produced little consumable food. Social and Cultural
The Great Depression brought a rapid rise in the amount of irrational
decisions. Alcohol was also a bad habit that continued in the 1930's. People sought out wine as an outlet to escape the bad situations that their families had to endure. Other people didn't want to continue to survive the harsh times which brought an immense increase in suicides. Kids did not receive the education that they needed because of the high costs and the need to help out around their home. Marriages were delayed because the males did not want to take on the responsibility of providing for a family. The number of births also dropped because parents didn't want to have one more child to feed and take care of. http://www.buzzle.com/articles/effects-of-the-great-depression.html
http://www.thefreemanonline.org/columns/what-ended-the-great-depression/ There are many reasons that The Great Depression started. A deflation in asset and commodity prices, dramatic drops in demand and credit, and disruption of trade, ultimately resulting in widespread unemployment and hence poverty There are also many theories of what caused it. The consensus among demand-driven theories is that a large-scale loss of confidence led to a sudden reduction in consumption and investment spending. Once panic and deflation set in, many people believed they could avoid further losses by keeping clear of the markets. Theory 1. Theory 2. There are the monetarists, who believe that the Great Depression started as an ordinary recession, but that significant policy mistakes by monetary authorities (especially the Federal Reserve), caused a shrinking of the money supply which greatly inflamed the economic situation, causing a recession to descend into the Great Depression. http://www.mynewsletterbuilder.com/email/newsletter/1409650075
http://www.shmoop.com/great-depression/statistics.html Sources FDR's Programs http://www.whitehouse.gov/about/presidents/franklindroosevelt
"The Great Depression (1929â1939) for AP U.S. History." The Great Depression (1929â1939) for AP U.S. History. N.p., 2012. Web. 31 Oct. 2012. <http://www.education.com/study-help/article/great-depression-deal-19291939/>.
Causes of the Great Depression Giveaway in March :: MultiMedia Learning | MyNewsletterBuilder." MyNewsletterBuilder.com. N.p., n.d. Web. 31 Oct. 2012. <http://www.mynewsletterbuilder.com/email/newsletter/1409650075>.
"Franklin D. Roosevelt." The White House. N.p., n.d. Web. 31 Oct. 2012. <http://www.whitehouse.gov/about/presidents/franklindroosevelt>.
Falson, Burton, Jr. "What Ended the Great Depression? | The Freeman | Ideas On Liberty." What Ended the Great Depression? | The Freeman | Ideas On Liberty. N.p., n.d. Web. 31 Oct. 2012. <http://www.thefreemanonline.org/columns/what-ended-the-great-depression/>.
Pillai, Prabhakar. "Effects Of the Great Depression." Buzzle.com. Buzzle.com, 04 July 2012. Web. 31 Oct. 2012. <http://www.buzzle.com/articles/effects-of-the-great-depression.html>.
To counteract economy:
To counteract effects of depression: Hawley-Smoot Tariff (1930)
Federal Deposit Insurance Corporation (FDIC)
National Industry Recovery Act -- tariff act that imposed severe tariffs on all incoming goods; European countries responded with their own high tariffs. Most historians say this tariff did little to help the American economy. -- federal agency established during the "First Hundred Days" of the New Deal in 1933 in an effort to halt panic over bank closings. The FDIC insures the bank deposits of individual citizens. Social Security Act (1935)
Works Progress Administration (WPA)
Tennessee Valley Authority
Civilian Conservation Corps (CCC) -- New Deal legislation providing pensions for workers reaching retirement age. Both workers and employers pay into the fund that provides this benefit. Initially, farm workers and domestic workers were not covered by Social Security. -- critical piece of New Deal legislation that protected the right of workers to form unions and utilize collective bargaining. -- New Deal program that employed nearly eight million Americans; WPA projects included the construction of schools and roads. Unemployed artists and musicians were also employed by the WPA. -- agency created in the New Deal to oversee the construction of dams, providing electricity and flood control for many in the Tennessee River Valley. -- established in 1933, the CCC eventually provided jobs for 2.5 million young -- New Deal legislation requiring owners and labor unions in various industries to agree upon hours, wages, and prices; as a result, wages did go up for many workers but so did prices. Tennessee
Valley Authority Project CCC Flier CCC workers
The Great Depression was the worst economic crisis in U.S. history. From 1931 to 1940 unemployment was always in double digits. In April 1939, almost ten years after the crisis began, more than one in five Americans still could not find work. On the surface World War II seems to mark the end of the Great Depression. During the war more than 12 million Americans were sent into the military, and a similar number toiled in defense-related jobs. Those war jobs seemingly took care of the 17 million unemployed in 1939. Most historians have therefore cited the massive spending during wartime as the event that ended the Great Depression.
sion was over.