1. The Great Depression and The New Deal b The Economy- trouble in paradise b The Crash of 1929 b Causes of the Depression b The Hoover Years b FDR and the New Deal b The First 100 Days

2. 1920s Prosperity b Telephone in use doubled

3. 1920s Prosperity b Telephone in use doubled b Plastics, rayon, and cellophane available

4. 1920s Prosperity b Telephone in use doubled b Plastics, rayon, and cellophane available b New Products: cigarette lighters, reinforced concrete, dry ice…and pyrex

5. 1920s Prosperity b Telephone in use doubled b Plastics, rayon, and cellophane available b New Products: cigarette lighters, reinforced concrete, dry ice…and pyrex b More leisure time and paid vacations

6. Inequality of the Wealth in the 1920s b Real wages increased 21%

7. Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66%

8. Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66% b Richest 5% of population increased its share of the wealth from 1/4 to 1/3

9. Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66% b Richest 5% of population increased its share of the wealth from 1/4 to 1/3 b And the richest 1% controlled 20% of all income in the nation

10. Inequality of the Wealth in the 1920s b Real wages increased 21% b But corporate dividends went up 66% b Richest 5% of population increased its share of the wealth from 1/4 to 1/3 b And the richest 1% controlled 20% of all income in the nation b 16 million lived below poverty level of $2000

11. The Stock Market Crash

12. b 1924- 100 b 1925- 181 b 1927- 245 b 1928- 331 b September 1929- peaked at 452 then started to fall b October 1929- ended up at 224

13. Herbert Hoover

14. Some Causes of the Great Depression

15. b Overproduction and underconsumption

16. Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth

17. Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth b Overextension of credit

18. Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth b Overextension of credit b The Smoot-Hawley Tariff

19. Some Causes of the Great Depression b Overproduction and underconsumption b Inequality of wealth b Overextension of credit b The Smoot-Hawley Tariff b A series of natural disasters- The Dust Bowl

20. Hoover’s approach to the Depression b Top down- give money to businesses and banks, to create jobs (trickle-down economics)

21. Roosevelt and the New Deal b The 100 Days b The National Recovery Act (NRA) b The Tennessee Valley Authority (TVA) b The Safety Net b Nine Old Men- The court-packing scheme b Keynes and Deficit Spending b The New Deal Reassessed

22. Franklin Delano Roosevelt

23. Depression Scenes

24. Food Lines

25. Hooverville

26. Migrant mother and family

27. The Three “R”s of the New Deal

28. b Relief of Human suffering

29. The Three “R”s of the New Deal b Relief of Human suffering b Recovery of the Economy

30. The Three “R”s of the New Deal b Relief of Human suffering b Recovery of the Economy b Reform (to prevent it from happening again)

31. The New Deal The 100 days

32. b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC

33. The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps

34. The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA)

35. The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA) b Agricultural Adjustment Act (AAA)

36. The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA) b Agricultural Adjustment Act (AAA) b Home-owners Loan Corp. (HOLC)

37. The New Deal The 100 days b A Bank “Holiday” b Emergency Relief Banking Act- Created the FDIC b Civilian Conservation Corps b Federal Emergency Relief Act (FERA) b Agricultural Adjustment Act (AAA) b Home-owners Loan Corp. (HOLC) b Civil Works Agency (CWA)

38. National Recovery Act

39. b Price fixing and codes of fair competition

40. National Recovery Act b Price fixing and codes of fair competition b Minimum wages and maximum hours

41. National Recovery Act b Price fixing and codes of fair competition b Minimum wages and maximum hours b Section 7a- Gave organized labor right to organize and bargain collectively

42. National Recovery Act b Price fixing and codes of fair competition b Minimum wages and maximum hours b Section 7a- Gave organized labor right to organize and bargain collectively b The Public Works Administration (PWA) spent $4 billion on 34,000 projects

43. The Tennessee Valley Authority

44. b Conservation

45. The Tennessee Valley Authority b Conservation b Govt. entered power-producing business

46. The Tennessee Valley Authority b Conservation b Govt. entered power-producing business b Served as a yardstick to see if private utilities were charging too much

47. The Tennessee Valley Authority b Conservation b Govt. entered power-producing business b Served as a yardstick to see if private utilities were charging too much b Produced Cheap Electricity

48. The Tennessee Valley Authority b Conservation b Govt. entered power-producing business b Served as a yardstick to see if private utilities were charging too much b Produced Cheap Electricity b Provided full employment for poor area

49. The Social Security Act of 1935

50. b Unemployment Insurance

51. The Social Security Act of 1935 b Unemployment Insurance b Plan for old-age pensions

52. The Social Security Act of 1935 b Unemployment Insurance b Plan for old-age pensions b Provisions made for disabled and dependents

53. John Meynard Keynes b British economist who advocated massive deficit spending by the government to jump start the economy (Keynsian Economics)

54. Criticism of the New Deal

55. b Creeping Socialism

56. Criticism of the New Deal b Creeping Socialism b Wasteful

57. Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending

58. Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy

59. Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy b Government had gotten too large

60. Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy b Government had gotten too large b Said FDR was pampering labor unions

61. Criticism of the New Deal b Creeping Socialism b Wasteful b Encouraged planned deficit spending b Made people lazy b Government had gotten too large b Said FDR was pampering labor unions b Failure to end the Depression

62. New Deal Sucesses

63. b Relief

64. New Deal Sucesses b Relief b FDR probably saved capitalism by staving off a possible revolution

65. New Deal Sucesses b Relief b FDR probably saved capitalism by staving off a possible revolution b Provided a stable government

66. New Deal Sucesses b Relief b FDR probably saved capitalism by staving off a possible revolution b Provided a stable government b Provided the foundations for the modern welfare state- the Safety Net !