Fdr Flashcards
(119 cards)
1
Q
Franklin D. Roosevelt
A
2
Q
- President during the Great Depression
A
took office in 1933
3
Q
- Created the New Deal and statist compared to Hoover
A
4
Q
- Did not rely on voluntary cooperation
A
thought relief was social duty to population
5
Q
Keynesian Economies
A
6
Q
- Keynesian Macroeconomic idea of “government intervention increase is best way to improve economy recovery”
A
7
Q
countercyclical fiscal policy
A
8
Q
• Survival of the fittest in the economy is not the best during a depression/really horrible situation
A
9
Q
• People get sick of it
A
so they elected a liberal (still not radical)
10
Q
• When the economy is good
A
less govt. spending
11
Q
• Plus spending multiplier
A
spending now pays off later in the economy because people spend their wages and benefits on
12
Q
stuff
A
13
Q
New Deal
A
14
Q
- Roosevelt originally ran on a conservative platform
A
as he wanted to balance the budget and reduce spending
15
Q
- His first bill he passed was a banking regulation bill which required banks to be inspected before reopening
A
source of
16
Q
urgency in those first 100 days
A
17
Q
- Series of programs created by Franklin D. Roosevelt which focused on “recovery
A
relief
18
Q
to stop the economy from getting bad
A
temporary programs to help people get on their feet
19
Q
happening again)
A
20
Q
- He followed the topics and ideas of Hoover’s policies but expanded the scope and often required reform
A
21
Q
- Pay people less than what business do
A
keep incentive for actual employment and not just relief
22
Q
Glass Steagall Act and the creation of the FDIC (1933)
A
23
Q
- Problem: Speculation in the Stock Market and lost savings
A
24
Q
- Separated commercial banking from investment banking
A
25
- Decreasing risk of banks
increased trust in the banking system
26
- Created Federal Deposit Insurance Corporation
27
If banks failed
the federal government would pay out the people the money (2500S)
28
- Also monitored stock market for insider trading
29
- Reform
encouraged investment and trust in banks
30
- Effective: reduced insider trading and trust in stock market
made banks safer and still around today
31
Agricultural Adjustment Act (1933)
32
- Problem: Overproduction of agriculture
crops
33
- Solution: Paid landowners not to produce
subsidized them and burned crops and livestock
34
- It did this by paying farmers subsidies to reduce their acreage and limit their production of certain crops. The goal was to
35
reduce crop surpluses and
consequently
36
- Corn
cotton
37
- 6.4 million pigs were slaughtered
38
- Successful: Supply lowered and prices normalized
39
- Farm income went from 4.5 billion in 1932 to 6.9 billion in 1935
40
- Deep south black farmers were discriminated by this as southerners didn't let them get the benefits due to racism
41
- Helped bigger farmers more than little farmers but still helped all farmers
mostly positive production
42
Civilian Conservation Corp (1933)
43
- Problem: Unemployment
Solution: Relief and jobs that came from the government
44
- Solution: The CCP gave young men jobs in parks
national forests and fields
45
use today with national parks
segregated camps were enforced
46
- Paid 30 dollars a month per person
258 automatically back to families
47
Very successful: more than 3 million people were employed by this program
48
Work Progress Administration (1935)
49
- Problem: Unemployment
created construction jobs
50
- Employed people to work on public infrastructure like schools and parks
to help improve infrastructure across America
51
and create jobs
52
- The WPA built airport landing fields
schools
53
community centres and city halls
many of which are still in use today
54
- The Largest of the New Deal Agencies
55
- However
jobs paid less than the private sector
56
Extremely successful as it employed over 8 million people in an 8 year span
and created thousands of public
57
buildings still used today
58
Wagner Act (1935)
59
- Problem: businesses had too much power over labor
hard to collectively bargain
60
- Workers could negotiate their salary and work conditions through their chosen unions
allowed workers to chose
61
unions through secret ballots if needed
62
- Established the National Labor Relations Board to provide government oversight over this.
63
Reform
64
- In the 5 years after the Wagners Acts passage
union density doubled to reach 18%
65
- Gave workers a ton more rights and first law ever over labor unions
so pretty successful
66
Social Security Act (1935)
67
• What year was the SSA passed? 1935
68
- Problem: Unemployment
lack of money
69
- Increased tax but provided pensions to poor and elderly
70
• Unemployment insurance for old age
so that old people would stop working and new young people could take
71
their job
72
- Decreased unemployment
young people took old people's jobs
73
family and completely self financed retirement
74
- Did not apply to farm workers and domestic servants due to racism by southern lawmakers not applying it evenly
the
75
exclusions prevented the hardest hit from being able to accept the benefits
76
Challenges from the Left
77
- Thought the New Deal wasn't doing enough to help those who truly got affected by the GD
78
- Some claimed that FDR's only concern was saving the banking system and ensuring profits for big business.
79
- Huey Long: thought FDR had to intervene harder and distribute all wealth
80
- Master of populism
81
- Share our wealth Plan
82
- Long proposed capping personal fortunes at $50 million through taxes and distributing it
83
- He wanted more government benefits and public works
more liberal than FDR
84
- Long was democratic and was stealing his votes
85
- Father Coughlin: a radio priest with a huge following
millions tuned in
86
- Believed that capitalism was doomed to fail
his critique resonated with many
87
Socialist
Coughlin liked FDR
88
- Anti-Semitic
Fascist
89
Challenges from the Right
90
- American Liberty League
91
- Formed in 1934
aimed to oppose President Franklin D. Roosevelt's New Deal policies
92
perceived as favoring state socialism. The league's members
mostly wealthy businessmen and political
93
figures
sought to preserve private property rights
94
Supreme Court
said New Deal was too intervening and hated FDR
95
- Put some conservatives in Congress
but ...
96
- They lost presidential elections and eventually disbanded
FDR got elected a total of 4 times
97
legislation continued to be passed
98
• The Supreme Court found 11 laws unconstitutional in 1935 and 1936
99
- Business leaders and industrialists thought the New Deal was stifling free enterprise
step towards socialism
100
government overreach
101
- Robert A. Taft (Senate Majority Leader
known as Mr. Republican)
102
- He was a senator and republican leader.
103
- He disliked the new deal because he wanted to eliminate wasteful government programs and let the free
104
market restore the economy.
105
- He was a libertarian and thought the programs were steps toward socialism.
106
Who is left out from the ND's policies?
107
• The New Deal policies
particularly the Social Security Act of 1935
108
domestic workers
109
• A significant portion of these excluded workers were African Americans
110
• This exclusion was a deliberate decision to gain the support of Southern Democrats in Congress
111
• The New Deal also negatively impacted poor people in the South
as it disproportionately benefited wealthier regions and
112
created regulations that increased consumer costs.
113
Court Packing (1937) after he won reelection in 36
114
The Supreme Court had taken down the AAA
115
- The Supreme Court found 11 laws unconstitutional in 1935 and 1936
116
- FDR realizes that the Supreme Court is saying all his stuff is controversial because they intervene too much in parts they
117
aren't supposed to
so he decides to change the Supreme Court to favor him: make the Supreme Court 15 judges and make
118
them retire at 70
was quickly declined as that was way too strong
119
- He was clearly doing this to remain in power and silence the SC that was calling his stuff unconstitutional.
