The Great Depression Did FDR’s New Deal create the issues the American economy faces today?

Causes of the Great Depression Causes of Great Depression Stock Market Crash – 10/29/29 – Over speculation Run on the Banks – 28 states without banks by end of 1932 Credit/Lack of savings – Cessation of purchasing with loss of money and jobs American Economic Policies with Europe – Smoot-Hawley Tariff – 1930 – Reciprocal trade cut-offs Drought – Dust Bowl – Grapes of Wrath by John Steinbeck

Bank Failures in the US

New Deal Beer-Wine Revenue Act Emergency Banking Relief Act FDIC HOLC FCA FERA → WPA and Social Security PWA CCC TVA SEC FHA

Supreme Court and the New Deal NRA President could set the codes for Wages Hours of work Level of production Prices of finished goods Fair competition Schechter v. US President assumed powers granted to Congress Regulated more than interstate commerce NLRA – granted workers the right to join unions and collectively bargain Packing the Court