Great depression

Herbert Hoover's approach to the Great Depression

Believed in limited government intervention, thought the economy would recover on its own.

Franklin Delano Roosevelt's approach to the Great Depression

Advocated for government intervention (New Deal) to combat the Depression and provide relief.

Bonus Army

1932 protest of WWI vets demanding early bonus payments.

Hoovervilles

Shantytowns named after Hoover, built during the Great Depression.

Hawley-Smoot Tariff Act

1930 tariff that worsened the Depression by reducing global trade.

Bull Market

A period of rising stock prices.

Buying on Margin

Borrowing money to buy stocks, leading to financial instability.

20th Amendment

Moved presidential inauguration date to January 20 (1933).

FDIC (Federal Deposit Insurance Corporation)

Insures bank deposits to prevent bank failures.

CCC (Civilian Conservation Corps)

New Deal program providing jobs in environmental conservation.

AAA (Agricultural Adjustment Act)

Aimed at raising crop prices by reducing supply.

WPA (Works Progress Administration)

Public works jobs during the Great Depression.

National Labor Relations Act (Wagner Act) of 1935

Protected workers' rights to unionize and bargain collectively.

Social Security

To provide financial support to retirees and the disabled.

New Deal goals

Relief, Recovery, Reform; opposed by those who believed it expanded government too much.

Second New Deal

1935-1938 programs focused on social welfare and economic reform.

FDR’s Fireside Chats

Radio addresses where FDR explained his policies to the public.

Black Tuesday

Stock market crash on October 29, 1929, marking the start of the Great Depression.

Great Depression causes

Stock market crash, bank failures, and high unemployment.

Dust Bowl

1930s drought and dust storms in the Great Plains, worsening the Depression.

Significance of New Deal programs on the U.S. economy

Aimed to provide relief, recover the economy, and reform the banking and financial systems.

Impact of the Great Depression on different social groups

Farmers struggled due to crop failures, workers faced high unemployment, and African Americans faced discrimination in New Deal programs.

Role of the Federal Reserve in the Great Depression

The Federal Reserve's tight monetary policy worsened the Depression by limiting the money supply.

How the stock market crash of 1929 led to economic problems

The crash caused a loss of wealth, reduced consumer spending, and led to widespread bank failures.