Combating the Great Depression

Hoover Administration

The U.S. presidential administration in power at the onset of the Great Depression, led by President Herbert Hoover.

Volunteerism

An approach advocated by Hoover, promoting charity and voluntary efforts to combat economic hardship.

Interventionism

A government policy of intervening in the economy, especially during the Great Depression.

Hoover Dam

A large construction project initiated by the Hoover Administration to provide jobs during the Great Depression.

Keynesian Economics

An economic theory proposed by John Keynes advocating for government intervention to stimulate demand during a recession.

Economic Recovery

A period of increasing economic activity that Keynes argued should be supported through government interventions.

Temporary Government Jobs

Jobs created by the government to stimulate consumer demand as part of Keynesian economic theory.

Federal Reserve

The central banking system of the U.S. that Keynes argued should inject money to stimulate economic activity.

Roosevelt Administration

The U.S. presidential administration under Franklin Roosevelt that implemented the New Deal.

New Deal

A series of programs and acts initiated by Roosevelt aimed at economic recovery and relief during the Great Depression.

Civilian Conservation Corps

A New Deal program that employed young men in park and infrastructure building.

Glass-Steagall Act

A New Deal act that regulated and limited loans and investment banking.

Tennessee Valley Authority

A New Deal program to provide public employment and power facilities in the Tennessee Valley region.

Social Security System

A program established under the New Deal to provide state pensions for the retired and elderly.

Economic Activity

The level of activity in an economy, which Keynesian economics aimed to increase through government spending.

Public Works

Government-funded projects aimed at employment and infrastructure development during economic downturns.

Great Depression

A severe worldwide economic depression that took place during the 1930s, beginning with the U.S. stock market crash in 1929.

Consensus Among Economists

Agreement among economists that the New Deal did not end the Great Depression, but World War II did.

Government Spending

Expenditure by the government, which increased under Roosevelt's administration as part of the New Deal.

Employment Programs

Initiatives created during the New Deal to provide jobs for the unemployed during the Great Depression.

Regulation of Banking

Efforts made by the Hoover Administration to encourage and control banking practices during the Great Depression.