I Intro
In this outline I am going to discuss the Causes and Effects of the Great Depression and some of the various solutions. There will be parts angled towards the criticisms that people expressed for the New Deal, and details behind it.
II Causes (The causes of the great depression were: High Tariffs, Unequal Distribution of Wealth, and Stock Market)
A overspeculation (Define, how important)
A overspeculation (Define, how important): Over speculation occurs when an investor purchases stock on the future earnings of the stock he already owns. It lead to risky financial transactions and the Wall Street Crash.
B Govt Policy
The Government Policy was about loans, any people wanted loans to help them buy something they could not afford at that very second.
C Unstable Econ
A overspeculation (Define, how important): Over speculation occurs when an investor purchases stock on the future earnings of the stock he already owns. It lead to risky financial transactions and the Wall Street Crash.
1 uneven prosperity
A overspeculation (Define, how important): Over speculation occurs when an investor purchases stock on the future earnings of the stock he already owns. It lead to risky financial transactions and the Wall Street Crash.
2 overproduction
A overspeculation (Define, how important): Over speculation occurs when an investor purchases stock on the future earnings of the stock he already owns. It lead to risky financial transactions and the Wall Street Crash.
3 worker issues / farm issues-
the farmers crops weren't going as good as they used to, people weren't buying as much and they weren't making as much money, things were especially hard for the people in the dustbowl because all their crops vanished.
III Effects
A Poverty-Unemployment, this reached a record high and 25 percent of people lost their jobs.
B Society
People went to soup kitchens because they were so starving and could not afford other food.
C World-
the governments all around the world were effected, shortly after wwII started which shook the whole world.
IV Solutions
A Hoover-Elected in 1928, Hoover held a strong belief in American individualism and free enterprise fused with public service.
1 Volunteerism- Elected in 1928, Hoover held a strong belief in American individualism and free enterprise
2 Public Works
Created thousands of jobs b authorizing the building of roads, bridges, and dams.
3 Hawley Smoot
Smoot-Hawley Tariff Act was created to provide revenue, to regulate commerce with foreign countries, to encourage the industries of the US and to protect American labor.
4 RFC
Reconstruction Finance Corporation; Put in place to aid state and local governments. Made loans to banks, railroads and other businesses.
B Roosevelt
1 new deal:
Some important government programs included in the FDR’s First New Deal during the Great Depression is; FDIC (Federal Deposit Insurance Corporation), SEC (Securities and Exchange Commision), NRA (National Recovery Administration), and CCC (Civilian Conservation Corps).
a alphabet soup
example: SEC - Securities and Exchange Commission was created to serve as a watchdog on the stock market.
example: FHA - Federal Housing Authority was created to provide low interest loans for new home construction.
example: HOLC - Home Owners Loan Corporation allowed homeowners to refinance mortgages to prevent foreclosure or to make home improvements.
example: USHA - United States Housing Authority initiated the idea of government-owned low-income housing projects.
b Criticsim?
2 2nd new deal
a Social Security; for the elderly, unemployment, disabled, widowed, or injured on the job.
b National Labo Relationship; Outlawed unfair practices and gave workers the right to organize unions.
c Works Progress Administration; created jobs by improving highways, rivers, and harbors.
V Criticicism
B Political Criticism (ex. Came from both the _right_ and _left_)
A Conservatives
-conservaties seek to conserve things the way they are and do not like change. the conservatives didnt like the change that was taking place because of the new deal.
B Liberals (ex: criticised the new deal also. They....)
for the liberals the new deal did not propose enough chance and thats is why it got critisism from the liberals also.
VI Effectiveness
A Changes in US- many changes happened because of the depression on of which was the instalment of the FDIC which protects your money in the bank. so banks cant go spend all your money.
B Unions- the labor unions would a lot of the times go on strike for getting better working conditions or even more jobs. In the long run their efforts payed off because the working conditions got better and more jobs were introduced.
C Culture- the culture of the united states changed a lot. because of the depression it changed they way people looked at life. everyone was a lot more thankful for having a job or even just having a house.
VII Conclusion- in total the great depression took a huge hit on the United States. Unemployment rates went up to the most they have ever been and people encountered a hardship like nothing seen before. From the efforts of the labor unions to the new deal trying to fix everything, nothing seemed to go right. But with the start of a new war and more jobs coming to America we slowly go out of the great depression.
