THE GREAT DEPRESSION OF THE 1930’S Brother can you spare a dime? Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418 Mladenović Filip 07/257.

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Presentation transcript:

THE GREAT DEPRESSION OF THE 1930’S Brother can you spare a dime? Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418 Mladenović Filip 07/257 Mitrović Peđa 07/272

Introduction Worldwide economic downturn USA ? Social and cultural effects harberger.wordpress.com Black Thursday, Oct. 24, 1929, the day the New York stock market crashed

Causes Declines in consumer demand Financial panics Misguided government policies The gold standard harberger.wordpress.com Unemployed men vying for jobs

Roaring twenties An era of great economic prosperity Or of an artificial boom? harberger.wordpress.com

Stock market crash Stock market speculations Black Thursday, Oct. 24, Black Tuesday, Oct. 29, 1929 harberger.wordpress.com

The Perfect storm Banking panics Monetary contraction The gold standard Milton Friedman harberger.wordpress.com

Implemented economic policies during President Hoover President Hoover (in office ) His aggressive actions done to stem depression by using the power of federal government were a failure. Smooth-Hawley Tariff Act as a response to Great Depression Was he a really liberal president? harberger.wordpress.com

Another response Glass-Steagall Act The first Glass-Steagall Act was passed in 1932 in an effort to stop deflation. The second Glass-Steagall Act was passed in 1933 in reaction to the collapse of the American commercial banking system. harberger.wordpress.com

Economic decisions of President Roosvelt President Roosvelt (in office ) The New Deal – Two main goals were to help the troubled economy and to introduce major reforms into capitalism. First New Deal took place between 1933 and 1935 and was focused on both farms and factories. The Second New Deal, introduced in 1935, added Social Security. harberger.wordpress.com Franklin D. Roosevelt

STRUCTURE OF AMERICAN SOCIETY DISINTEGRATES Banks collapsed, factories closed down Massive unemployment No food, no clothes, no jobs Migrant Mother, 1936.

AMERICAN DREAMS ARE SHATTERED 14 million Americans are jobless People would work for 10 cent per hour 2 hamburgers=5 cents banks failed Income per capita fell from $700 to $400 US unemployment

Culture and society Hoovervilles Hemorrhage of talent “Common man” Marxism, the Soviet Union harberger.wordpress.com Hooverville

Popular culture Amusements Games Night clubs Movies Music harberger.wordpress.com

"If, with all the advantages I've had, I can't make a living, I'm just no good, I guess." An unemployed Texas schoolteacher, harberger.wordpress.com

Thank you for your attention! harberger.wordpress.com