the great depression 1929-1939 did fdr’s new deal create the issues the american economy faces...
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The Great Depression1929-1939
Did FDR’s New Deal create the issues the American economy faces today?
Causes of the Great Depression• Causes of Great Depression• Stock Market Crash – 10/29/29
– Over speculation• Run on the Banks
– 28 states without banks by end of 1932• Credit/Lack of savings
– Cessation of purchasing with loss of money and jobs• American Economic Policies with Europe
– Smoot-Hawley Tariff – 1930– Reciprocal trade cut-offs
• Drought– Dust Bowl– Grapes of Wrath by John Steinbeck
Bank Failures in the US
New Deal• Beer-Wine Revenue Act• Emergency Banking Relief Act• FDIC• HOLC• FCA• FERA → WPA and Social Security• PWA• CCC• TVA• SEC• FHA
Supreme Court and the New Deal• NRA
• President could set the codes for• Wages• Hours of work• Level of production• Prices of finished goods• Fair competition
• Schechter v. US• President assumed powers granted to Congress• Regulated more than interstate commerce
• NLRA – granted workers the right to join unions and collectively bargain
• Packing the Court
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