PPT - The Great Depression - IIA2

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PPT - The Great Depression - IIA2

PPT - The Great Depression - IIA2

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  • 1. The Great Depression USA Part 2/2
  • 2. Consequences
    • On the worse part of the Great Depression (GD), unemployment rose to 605% and productivity decreased by 46%.
    • President Herbert Hoover tried to solve this by starting numerous programs, but they all failed to reverse the downturn.
  • 3. Smoot-Hawley Tariff Act
    • June 1930: Congress approved the Smoot-Hawley Tariff Act, which raised tariffs on thousands of imported items (trying to encourage to purchase American-made products).
    • Other nations increased tariffs on American-made products in retaliation, reducing international trade and worsening the GD.
  • 4. New Deal
    • In his first term, President Franklin D. Roosevelt passed a series of programs that were called the “New Deal”. These were a response to the GD focused mainly in what historians call the “3 Rs”: Relief (for the unemployed and the poor), recovery (of the economy to normal levels) and reform (to the finantial system to prevent another Depression
  • 5. Consequences of the New Deal
    • This series of programs represented a significant shift in politics and domestic policy. It especially led to greatly increased federal reculation of the economy. Many didn’t accept this, but they had to unite to help solve this disastrous phenomenon.
  • 6. Ways of the New Deal
    • Regulations included controls over bank systems and programs to support construction and farms, among others.
    • Some of the early changes were adding minimum prices and wages, setting labor standars, regulations to fight deflatory competition and cutting farm production to raise prices.
  • 7. Start of the World War II
    • The depression continued until 1941. Under special circumstances of war mobilization, massive war spending doubled the GNP (Gross National Product).
    • As the military grew, new labor sources were needed to replace the 12 million men serving in the military.
  • 8. End of the Great Depression
    • The economy grew so fast after deemphasizing free enterprises, that the gap between rich and poor narrowed dramatically in the area of nutrition, because food rationing and price controls provided a reasonably priced diet to everyone.
    • The Great Depression soon ended and economy started to grow again.