Economic failure

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  • Created by: Jasmin
  • Created on: 30-05-13 21:42
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  • Economic failure
    • Food prices fell, farmers income fell
      • Farm Board help farmers, brought surplus farm produce to keep prices up
    • People not buying manufactured goods. Businesses collapsing
      • Hoover has no solution
    • Can't sell manufactured goods to foreign countries
      • Tariffs
    • Businesses failing banks won't lend money, more unemployed
      • Reconstruction Finance Corporation provide loans $1500 million to businesses to get back on feet
    • Employers paying low wages. Workers have no money to buy goods
    • People homeless, hungry, need help and jobs
      • Relief: Hoover saw as responsibility of local state gov but they didn't have any money
      • Government schemes provided $423 million for programme to provide new jobs e.g. Hoover Dam

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