**Creator**:: [[Aaron Bopp]] **Source**:: [[course_US History from 1870]] - [[notes_1920's General Notes]] - [[Great Deppression - Causes of the Great Deppression - [[Wealth Inequality]]- 1% 650x the income of bottom 11% - unequal distributions of corporate power - large trust and [[monopolys]]. 1920s rolled back regulations - bad banking structure - didn't have enough cash to keep loans up. When banks failed people lost their money - foreign balance of payments - America stifled foreign trade by demanding debts be returned and controlled the worlds gold supply - limited or poor state of economic intelligence - The government did not understand well enough how the world economy worked - Social problems - Fathers left their families - Extreme [[unemployment]] and [[poverty]] - Protests - bonus expeditionary force - farmers protested against banks foreclosing their farms - Economic problems - Unemployment - Breakdown of markets - couldn't sell goods/services - Farmers his very hard - dust bowl - drought in 1931 1932 and lack of prarie led to dust - going west - farmers who lost farms and went west to california to jobs that sometimes didn't exist - - Hoover - Did not want to take a direct role in the economy and believed that [[America|americans]] needed to pull themselves out of the deppression in order to preserve [[Capitalism]] - Spent 500 million on public works projects - Reconstruction Finance Corporation (RFC) lent money to banks and companies that were short on cash - Despite this he prioritized the budget and did not want to give help to individuals - - [[FDR]] - [[FDR]] won the Election with no real plans but with promises of Relief programs, repealing prohibition, and a charming and upbeat demeanor - Worked on the New Deal - Created by the Brain Trust - Special session of [[Congress]] and accomplished a lot in the first hundred days. - Fireside chats - Recovery and [[the New Deal]] - Non-sound banks were taken over by the [[government]] until they could become sound again - AAA (Agricultural Adjustment Act) - increased farms revenue by 50% - TVA - was a template for how getting energy to rural families was profitable - CCC - Required to send money home to families, but it excluded many workers and did not affect - NIRA - established prices for companies and consumers - Found unconstitutional - Second Deal - WPA - built hospitals, airports, [[infrastructure]] - Wagner Act - strengthed protection for works - Social Security - direct aid to retired workers, left a lot of people out but set a standard of helping who could not help themselves - Wealth Tax Act - those who benefited from the [[economy]] needed to share it - [[notes_1940's General Notes]]