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" laissez-faire" Policy"
the federal gov should stay away from the private industries, economy, market… (classical liberalism)
The Great Depression
1929: f
fall of GDP (13%)
Industrial production
farmers lost land
banks failed = +++ unemployment
Herbert Hoover
elected in 1928: Conservative Republican
Self-help & Welfare state
Franklin Delano Roosvelt
elected in 1933: reject conservatism Republican
The New Deal
an « economic social order »
an « economic declaration of rights »
an « economic declaration of rights »
Regulation of Wall Street
Securities and Exchange Commission
The environment
Tennessee Valley Authority (1933)
The welfare state
Works Progress Administration (1935)
Social Security
WEALTH TAX ACT
1935
Redefined fiscal system
Estate tax on inheritance of the rich
Increase income tax
Tax corporate profit
Unionism
1935: Wagner Act (Right to collective bargaining)
Recovery by 1936
GDP: up by +50% compared to 1932
Annual growth rate: 10%
Unemployed: divided by 2
Agricultural income: x4
+++ private profits
Liberalism
political and economic system = reinforced allegiance to the US political system