H1 - The Great Depression Flashcards
(33 cards)
The great depression
(1929-1939) Greatest and longest economic recession in the history of the industrialised world, following a major fall in stock prices in the US
Liberalism
Political ideology based on support for a market economy, private property in the means of production
==> opposition to government intervention in the economy
Dust Bowl
1930 - Name given to the American region hit by a drought and dust storms, ruining farmland and forcing farmers to migrate
What name was given to FDR’s government ?
The Brain Trust
New Deal
Series of programs, public work project, financial reforms and regulations enacted by FDR by 1933 to avoid economic disaster like TGD from ever recurring
What are the 3Rs ?
“Relief, Recovery, Reform” 3Rs of the New Deal summarising FDRs 3 goals in his plan to recover from TGD
Relief: social help = giving $ to ppl in need
Recovery: pump priming
** putting $ in companies = +employment
** + social assistance = ppl have +$ = +consumers
Reform: structural reforms = financial support (higher wages, lower work hours; social service/security)
Alphabet agencies
US federal government agencies created as a part of the New Deal of FRD
created in 1933
TVA (Tennessee Valley Authority)
Federally owned company created to provide navigation, flood control, electricity generation and economic development/ employment in the Tennessee Valley
hired 9000 ppl in 1934 and 20 000 ppl in 1942
Security Act
(Wagner Act, 1935) = meant to regulate the securities industry
(excluded African Americans + domestic workers)
Welfare State
Social programs created in the UK to provide security to its citizens from cradle to grave (theorised by Keynes)
Hoover’s election
1928
FRD elected + 1st New Deal
1933 = success (less unemployment - 12M to 11M)
only 100 days in his presidency
Hawley Smoot Act - tarifs increase
1930
2nd New Deal
1935-1936
Wagner/ Social security Act
1935
National Recovery Administration (NRA)
goverment funds companies for upgrades/ salaries (beginning of nationalization + public agencies)
women’s right to vote
1920
native’s right to citizenship
1924
dry amendment
1919 - prohibition of alcohol in the US
==> beginning of black market
Immigration Act
1924
conservatives afraid that=more migrants than white anglosaxon protestant
Black thursday
October 24th 1929
Wall street crash
Dust Bowl
Severe environmental disaster during the 1930s in the U.S. Great Plains, caused by drought and poor farming practices that led to massive dust storms and widespread agricultural collapse
1925
Banks closed in Ger
July 1931
the government used the “laissez-faire”
The Great Depression struck France
1934-1935
