New Deal
- Created by: louisemeller
- Created on: 16-05-17 15:09
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- New Deal
- Great Depression
- Causes
- Stock market crash 24th October 1929
- Inequality of wealth
- Debt
- High tariffs
- Interdepen-dent economies and consumer economy
- Little government regulation
- Impact 1929-33
- Prices for farm goods hit rock bottom, land repossessed (farmers= 1/4 workforce)
- Tenant farmers/sharecroppers hard-hit
- Industrial factories closed. 1/4 workers unemployed. wages fall 1/3
- A.Americans lost jobs to whites. 1932= 50% AAs unemployed
- Women first to be laid off
- Home foreclosures- 1933= half of mortgages in default
- Millions of homeless around America
- No federal assistance- few charities or agencies
- Prices for farm goods hit rock bottom, land repossessed (farmers= 1/4 workforce)
- Angry protesters
- Self-help barter groups, organised looting, mass demonstration, hunger marches
- Government reaction
- Herbert Hoover- republican- opposed to federal economic intervention.
- Stimulated wealthy/ private relief charities.
- Traditional way of handling crises
- Tax increase 1932- decreased ppp
- Herbert Hoover- republican- opposed to federal economic intervention.
- Causes
- F D Roosevelt
- Believed govt. should intervene to protect citizens
- 3 objectives
- Provide relief to destitute
- Foster economic recovery of farms and businesses
- Reform govt. and economy
- 'modern' because it was a new was of tackling crises
- How 'new' was the New Deal?
- First president to exercise so much power in people's lives
- Challenged old idea of laisse-faire
- Established principle of government intervention
- Great Depression
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