The Great Depression and FDR's New Deal

Great Depression

Severe worldwide economic downturn starting in 1929.

Black Thursday

Stock market crash date: October 24, 1929.

FDR

Franklin Delano Roosevelt, U.S. President during Depression.

Unemployment Rate

Peak at 24.9% in 1933, 12.8 million unemployed.

Hoovervilles

Shantytowns built by homeless during the Depression.

New Deal

FDR's program for economic recovery and reform.

Banking Holiday

Temporary closure of banks to prevent runs.

AAA

Agricultural Adjustment Administration; stabilized farm prices (created by the Agricultural Adjustment Act of 1933)

CCC

Civilian Conservation Corps; jobs for unemployed youths.

TVA

Tennessee Valley Authority; electricity and jobs for rural areas.

FERA

Federal Emergency Relief Administration; jobs for unemployed Americans.

WPA

Works Progress Administration; construction and arts jobs.

NRA

National Recovery Administration; stabilized consumer goods prices.

Economic Collapse

Banking system failure and massive unemployment.

Foreclosure

Loss of homes and farms due to unpaid debts.

Dust Bowl

Severe drought affecting Great Plains during Depression.

Migration

Movement of families seeking work and better conditions.

Hobos

Unemployed youth traveling by freight trains for jobs.

Labor Force

Total number of employed and unemployed workers.

Productivity Drop

Economic output fell to 1/3 of 1929 levels.

Cycle of Poverty

Lower incomes perpetuated economic slowdown.

Economic Policies

Hoover's policies criticized for ineffectiveness during crisis.

AAA

Agricultural Adjustment Administration, established in 1933.

CAA

Civil Aeronautics Authority, formed in 1938.

CCC

Civilian Conservation Corps, initiated in 1933.

CCC

Commodity Credit Corporation, established in 1933.

CWA

Civil Works Administration, launched in 1933.

FCIC

Federal Crop Insurance Corporation, formed in 1938.

FDIC

Federal Deposit Insurance Corporation, created in 1933.

FERA

Federal Emergency Relief Agency, established in 1933.

FHA

Federal Housing Administration, created in 1934.

FSA

Farm Security Administration, created in 1937.

FSA

Federal Security Agency, formed in 1939.

FWA

Federal Works Agency, established in 1939.

NLRB

National Labor Relations Board, established in 1935.

NRA

National Recovery Administration, created in 1933.

NYA

National Youth Administration, created in 1935.

PWA

Public Works Administration, initiated in 1933.

RA

Resettlement Administration, established in 1935.

REA

Rural Electrification Administration, created in 1935.

RFC

Reconstruction Finance Corporation, formed in 1932.

SCS

Soil Conservation Service, created in 1935.

SEC

Securities and Exchange Commission, established in 1934.

SSB

Social Security Board, formed in 1935.

TVA

Tennessee Valley Authority, established in 1933.

USMC

United States Maritime Commission, established in 1936.

WPA

Works Progress Administration, initiated in 1935.

WPA

Renamed Works Projects Administration in 1939.

Great Depression

Economic downturn starting with 1929 stock market crash.

Keynesian Economics

Theory advocating deficit spending to stimulate economy.

Black Thursday

October 24, 1929, stock market crash date.

Public Works

Government-funded projects to create jobs and infrastructure.

World War II

Conflict that stimulated economic recovery post-1938.

Great Depression

Worst economic disaster in American history.

Unemployment Rate 1933

24.9% of workforce unemployed, 12.83 million people.

Wage Income Decline

Wages fell 42.5% from 1929 to 1933.

Hoovervilles

Shanty towns made from scrap materials.

Okies

Migrants from Great Plains to California.

Brains Trust

Advisory group of experts for Roosevelt.

New Deal

Roosevelt's program to combat the Depression.

Alphabet Agencies

Federal agencies created under the New Deal.

AAA

Agricultural Adjustment Administration; raised farm prices.

TVA

Tennessee Valley Authority; provided electricity and jobs.

FERA

Federal Emergency Relief Administration; jobs for unemployed.

WPA

Works Progress Administration; jobs in construction and arts.

NRA

National Recovery Administration; revitalized industry and unions.

Social Security System

Provided financial support for the elderly.

Unemployment Insurance

Financial aid for unemployed individuals.

Federal Government Role

Expanded responsibilities for public welfare.

Roosevelt's Four Terms

Only president elected for four terms.

Depression Duration

Lasted until 1941, ending with WWII.

Impact on American Life

Tested values and resilience of Americans.

Migration for Work

Families moved seeking employment opportunities.

Economic Recovery

Stimulated by WWII job creation.