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

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

4. 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

5. 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

6. 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

7. The Stock Market Crash

8. 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

9. Herbert Hoover

10. Some Causes of the Great Depression

11. b Overproduction and underconsumption

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

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

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

15. 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

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

17. 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

18. Franklin Delano Roosevelt

19. Depression Scenes

20. Food Lines

21. Hooverville

22. Migrant mother and family

23. The Three “R”s of the New Deal

24. b Relief of Human suffering

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

26. 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)

27. The New Deal The 100 days

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

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

30. 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)

31. 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)

32. 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)

33. 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)

34. National Recovery Act

35. b Price fixing and codes of fair competition

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

37. 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

38. 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

39. The Tennessee Valley Authority

40. b Conservation

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

42. 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

43. 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

44. 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

45. The Social Security Act of 1935

46. b Unemployment Insurance

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

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

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

50. Criticism of the New Deal

51. b Creeping Socialism

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

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

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

55. 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

56. 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

57. 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

58. New Deal Sucesses

59. b Relief

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

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

62. 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 !