GD and New Deal

Rural/agriculture economy to urban/industrial economy

Transition from a primarily agricultural-based economy to one focused on manufacturing and industry.

Production of consumer goods

The manufacturing of products meant for personal use by the general population.

Speculation

The practice of buying financial assets with the hope that they will increase in value.

Buying on the margin

A practice where investors purchase stocks by borrowing money from brokers.

Black Tuesday - October 29, 1929

The day the stock market crashed, marking the beginning of the Great Depression.

Causes of the Great Depression

Overproduction, underconsumption, irresponsible stock trading, and lack of support for farmers.

Irresponsible stock trading

Buying stocks on credit, leading to overvaluation and eventual market collapse.

GD exposed failure of Laissez-Faire economic policy

The economic approach that promoted minimal government intervention was unable to prevent the Great Depression.

Herbert Hoover's beliefs

He believed the solution to economic issues lay in private charity rather than government intervention.

Hoovervilles

Makeshift shantytowns built by homeless people during the Great Depression.

Global Economic Failure

The reliance of European economies on American investments for recovery after WWI.

FDR's belief in government intervention

Franklin D. Roosevelt advocated for extensive government action to address economic issues.

Consumerism fueled by electric appliances

The increase in consumer goods marketed in the 1920s encouraged the rise of consumer culture.

Coolidge's decision on federal regulation

Aimed to reverse the trend of Progressivism by reducing business regulations.

Impact of stock speculation on economy

Made companies appear more valuable than they truly were, contributing to market instability.

Inflation definition

The decrease in the value of money due to excessive printing and circulation.

Slowdown in steel production impact

Created a domino effect leading to unemployment and a decline in sales across industries.

Cause of bank failures in 1929

Customers' inability to repay their loans led to banks running out of money.

Programs illustrating Hoover's self-help belief

The Federal Farm Board and the National Credit Corporation aimed to encourage industries to self-regulate.

Example of a public works program

Hoover Dam, constructed as part of government efforts to provide employment and infrastructure.

Higher unemployment for black Americans

Due to racial discrimination in hiring practices and job layoffs.

American worries by 1932

Fear of government ineffectiveness and potential societal collapse.

1932 presidential election significance

A record number of party switches among voters.

FDR's landslide victory in 1932

Characterized by the highest voter turnout and vote percentage in history up until that point.

Power of the Migrant Mother photo

Elicited strong sympathy from the public towards migrant workers.

Activities leading to soil erosion

Removing the sod from the Plains contributed to significant soil degradation.

First Hundred Days definition

Refers to the initial three months of FDR's presidency during which significant legislation was passed.

Successful long-term program for rural Americans

The Tennessee Valley Authority aimed to improve economic conditions in rural areas.

FDR's approach to isolationism

Encouraged American involvement in world affairs to combat isolationist tendencies.

FDR's blame for the Great Depression

Placed responsibility on bankers, stockbrokers, and large business owners.

Impact of FDR's court-packing scheme

Proposed to expand the Supreme Court by allowing the appointment of new justices at age 70.

New Deal program with extra funding during recession

The Works Progress Administration (WPA) received additional resources to continue its projects.