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4368532
Great Depression
Description
advanced History Mind Map on Great Depression, created by cristinac888 on 25/01/2016.
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Mind Map by
cristinac888
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cristinac888
almost 9 years ago
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Resource summary
Great Depression
Hoover
rugged individualism- no welfare bc people should provide for themselves
thought economy would eventually fix itself
FDR
many policies and welfare to help
elected bc everyone mad Hoover didnt do anything
Court Packing-- new law to appoint new Supreme Court justices (they were too old + not retirign + conservatie + not supporting FDR
people claimed it was unconstituional but it was
Causes
tariffs
farm crisis
credit
social gap
STOCK MARKET CRASH (BLACK TUESDAY)
unequal distribution of income
bought more than they could afford- availability bc banks gave them out easily
farmers in debt bc bought huge lands to provide for wartime but no demand anymore
Smoot Hawley Tariff - US made high tariff to protect itself but Europe followed - stalemate in foreign trade - backfired
Escaping Hardships
leisure: books, movies, music
John Steinbeck - Grapes of Wrath showed Okies moving from Dust Bowl to California
breadlines, soup kitchens
Hoover Dam- provided jobs
speculation- risky investment for quick profit
buying on margin- paying a little + borrowing rest
END
NEW DEAL
policies for Relief (needy), Recovery (economy+jobs), and Reform (finances)
First 100 Days-- focused on banking + jobs
Emergency Banking Relief Act -- Bank Holiday! -- banks close until stable to reopen
Securities + Exchange Commission -- regulated stock + prevents people from rigging for own profit
Results- jobs created, economy regulated,
WW2
Brought economy back to wartime production -- raise in demand -- much gov spending -- available jobs at home for women
Hardships
Dust Bowl- bc overused farmland + drought- no grass to hold soil so huge storms of dust -- filled everything
Hoovervilles- lost homes to live in towns of shacks -- name shows they didn't support Hoover who didn't help them
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