Great Depression 1930s
Order Instructions:
From your textbook answer the following questions. Don’t copy and paste/plagiarize or I must give a zero for the entire assignment, and don’t type out an answer you don’t understand. If you need help ask me. Remember that grammar/spelling count and I will take off as much as half credit for poor writing/proofreading.
PART 1:
1) Type what you learned about FDR’s story (perhaps upbringing, education, politics, marriage, polio, Warm Springs GA, differences with Hoover, March of Dimes)
2) Define KEYNESIAN ECONOMICS such that you understand it. (How did this approach to economics permit the New Deal to exist?)
3) Describe New Deal programs that are still with us, including the FDIC, SSA, TVA, and SEC.
4) Describe 5 New Deal programs (“alphabet agencies”) no longer with us (including WPA, PWA, CCC, and two others)
Part 2:
A) Crash Course US History: The Great Depression (14:24)
www.youtube.com/watch
1) Before the stock market crashed, Americans were buying lots of new consumer goods, but often HOW? (hint: “it was totally unsustainable”)
2) What were the two reasons food prices fell so much prior to the Depression?
3) John Green: “If I had to name a single cause for the Great Depression it might be…” What?
4) And so what “froze”?
5) What is “deflation”?
6) Hoover blamed WWI and reparations for global depression, right? But as depression spiraled around the world and the world needed global TRADE more than ever before, what did the US (and then Europe) do???
7) What was the point/goal of Hawley-Smoot? That is, why enact it?
8) What country finally abandoned the gold standard in 1931?
9) Did the US do so, and did it work?
10) What was Hoover’s “President’s Organization on Unemployment Relief”?
11) Who were the “Bonus Marchers”? (This goes by fast at the end)
B) Crash Course US History: The New Deal
www.youtube.com/watch
1) What does NRA stand for in the video and re: Great Depression?
2) What were the “three R'” categories of the New Deal and what were they supposed to do? (Hint, one was NOT Run-DMC, lol…but I sure loved them in the 80s.) 😉
3) In the second phase of the New Deal, what was the “Wagner Act”?
4) Who was quoted in the “mystery document” discussing “adequate wages”?
5) Why was it believed that raised wages would help pull the nation out of depression?
6) Rather than the New Deal, some economic historians believe what really ended the Great Depression once and for all? (Hint: “another massive government spending program”)
7) FDR saw liberty as “greater…for the average…”? (what and what?)
SAMPLE ANSWER
Great Depression/1930s
PART 1:
1) Type what you learned about FDR’s story (perhaps upbringing, education, politics, marriage, polio, Warm Springs GA, differences with Hoover, March of Dimes)
FDR argued that it was the responsibility of the government to promote the life of the citizens. FDR aimed to end depression and ensure that unemployment was resolved. He was the US president that was elected four times. He ruled during World War II and the Great Depression.
The leader was born in 1882 in New York and suffered from polio in 1921. His political journey begun when he was 28 years old after being invited to run for the senate for New York State. He is known for his reform agenda through new deal. He died in 1945 from cerebral hemorrhage.
2) Define KEYNESIAN ECONOMICS such that you understand it. (How did this approach to economics permit the New Deal to exist?)
Keynesian economics is a situation where economic output is influenced by the total spending incurred in an economy in short run when the economy is experiencing recession.
The approach permitted the New Deal to exist as it aimed to stabilize the economy through the concept of demand and supply. More jobs were to be created to increase the spending hence helping to overcome the Great Depression.
3) Describe New Deal programs that are still with us, including the FDIC, SSA, TVA, and SEC. New deal made the expectations of the Americans on their government. It made government and institution experience daily American life
social Security Act (SSA) aimed to fight widespread poverty in older people. Income was given to retired wage earners. Currently the program receives funding from current wage earners and employers and still remains popular.
Tennessee Valley Authority (TVA) was created in 1933 to help develop the Tennessee Valley region economy hit greatly by the Great Depression. The federal-owned corporation is still operational today providing electricity in US.
Federal Deposit Insurance Company (FDIC) was formed in 1933 to address the bank failures experienced in 1920s and 1930s to ensure that depositors are protected. The body nowadays helps in promoting public confidence in financial system of US.
Securities Exchange Commission (SEC) was formed in 1934 to act as market watchdog. It is part of the government and oversees brokerage firms as well as ensures that organizations such as New York Stock exchange are self-regulated. The body is key in regulating and impacting on the global economic crisis.
4) Describe 5 New Deal programs (“alphabet agencies”) no longer with us (including WPA, PWA, CCC, and two others)
One of the deals was Civilian Conservation Corps (CCC), created by Franklin Roosevelt in 1933 to combat unemployment. The deal helped to create employment for many Americans during the Great Depression. Many public works and structures were created across the nation, courtesy of this deal.
Second, was Civil Works Administration (CWA), created in 1933 to provide jobs for those unemployed. The focus was on high paying jobs in the construction industry. The deal increased federal government expenses as earlier planned.
The third was the Federal Housing Administration (FHA) aimed at fighting housing crisis of the great depression. It aimed at regulating housing and mortgage conditions.
The fourth was Federal Security Agency (FSA) established in 1939 to address various important government entities. It, however, was abolished in 1953. The role it played included administration of federal education funding, social security, and food and drug safety.
The fifth was the Home Owners Loan Corporation (HOLC) created in 1933 to help in refinancing of homes. Between 1933 and 1935, a million people had long-term loans through this agency to ensure that their homes are not closed/foreclosure.
Part 2:
A) Crash Course US History: The Great Depression (14:24)
https://www.youtube.com/watch?v=GCQfMWAikyU&list=PL8dPuuaLjXtMwmepBjTSG593eG7ObzO7s&index=36
www.youtube.com/watch
1) Before the stock market crashed, Americans were buying lots of new consumer goods, but often HOW? (hint: “it was totally unsustainable”)
Credit and installment buying
2) What were the two reasons food prices fell so much prior to the Depression?
Increase in amount of food produced for the soldiers.
Mechanization.
3) John Green: “If I had to name a single cause for the Great Depression it might be…” What?
Massive unemployment
4) And so what “froze”?
Credit
5) What is “deflation”?
Less money in circulation
6) Hoover blamed WWI and reparations for global depression, right? But as depression spiraled around the world and the world needed global TRADE more than ever before, what did the US (and then Europe) do???
Raising tariff
7) What was the point/goal of Hawley-Smoot? That is, why enact it?
Protect American industries
8) What country finally abandoned the gold standard in 1931?
Britain
9) Did the US do so, and did it work?
No, it did not work
10) What was Hoover’s “President’s Organization on Unemployment Relief”?
An organization to ensure no one should starve hence, encouraged private organization /charities for poor.
11) Who were the “Bonus Marchers”? (This goes by fast at the end)
Protests that saw people demand for bonuses
B) Crash Course US History: The New Deal
https://www.youtube.com/watch?v=6bMq9Ek6jnA&list=PL8dPuuaLjXtMwmepBjTSG593eG7ObzO7s&index=36
1) What does NRA stand for in the video and re: Great Depression?
National Recovery Administration
2) What were the “three R'” categories of the New Deal and what were they supposed to do? (Hint, one was NOT Run-DMC, lol…but I sure loved them in the 80s.)
Relief programs- gave money to poor people
Recovery programs- recover the economy
Reform program- regulate economy in the future to prevent depression
To fix depression and prevent future depression
3) In the second phase of the New Deal, what was the “Wagner Act”?
Guaranteed workers the right to unionize. It created platforms for the workers to form unions
4) Who was quoted in the “mystery document” discussing “adequate wages”? Eleanor Roosevelt
5) Why was it believed that raised wages would help pull the nation out of depression?
Under consumption
6) Rather than the New Deal, some economic historians believe what really ended the Great Depression once and for all? (Hint: “another massive government spending program”)
World war two program- massive government spending program
7) FDR saw liberty as “greater…for the average…”? (what and what?)
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