Power PresentationsCHAPTER 26

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Economics in History

It’s 1932. The economy is bad, and millions of people are out of work. Some are starving. Two men are running for president. One says the government should give money to the poor. The other says this will make people stop looking for jobs. He wants charity groups to help people in need.

Who do you think should help the poor?

• Is the government responsible for everyone’s well-being?

• What responsibility do individuals have to help others?

• What is the best way to help people out of poverty?

To World1939 John Steinbeck publishes The Grapes of Wrath

about migrant workers.

1937 Roosevelt tries but fails to add justices to the Supreme Court.

1936 Roosevelt is reelected.

1935 Congress passes the Social Security Act.

1933 Roosevelt initiates government programs to help the economy.

1932 Americans turn against Hoover. Franklin Delano Roosevelt is elected president.

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1931 President Hoover declares that the country will work itself out of the Depression.

1929 U.S. stock market crashes. Great Depression begins.

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1939 Germany invades Poland, starting World War II.

1936 Léon Blum, socialist premier of France, introduces reforms such as the 40-hour workweek.

1933 Adolph Hitler becomes dictator of Germany.

1931 Affected by the Depression, Japan invades Manchuria, partially to expand its economy.

Main Idea

Why It Matters Now

After the stock market crash of 1929, the U.S. economy sank into the worst depressionof its history.

Today the government regulates banking and the stock exchange to prevent suchsevere depressions.

What events led from the stock market crash to massive unemployment in the late 1920s?

Stock market crash Banks failed

Businesses sold less and

laid off workers

massive unemployment

• What weaknesses existed in the economy during the 1920s?

• What is buying on margin, and how was it a problem?

• Why did Hoover become unpopular with many Americans?

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Contrasting

How did Hoover’s view of the federal government and that of most Americans differ?

Think About

• Hoover’s attitude about federal relief

• why Americans blamed Hoover for their suffering• what Americans might have expected from Hoover

Main Idea

Why It Matters Now

After becoming president, Franklin D. Roosevelt took many actions to fight the Great Depression.

Roosevelt increased government’s role in helping needy Americans and regulating the financial industry.

What were FDR’s major programs? Was the goal of each program: relief, recovery, reform, or a combination?

relief

relief

recovery

recovery

relief and reform

FERA

PWA

AAA

TVA

CCC

FDIC reform

PROGRAM GOAL PROGRAM GOAL

recovery and reform

Imagerelief

recovery

relief

reform

NRA

WPA

REA

NYA

Wagner Act

Social Security

relief and reform

• How did Roosevelt give Americans hope?

• What happened during the period known as the Hundred Days?

• What were the consequences of FDR’s attempt to increase the size of the Supreme Court?

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Analyzing Points of View

What were some of the different reasons that people criticized FDR?

Think About

• the conservatives

• Huey Long, Father Coughlin, and Francis Townshend• those who opposed the “court-packing” bill

Main Idea

Why It Matters Now

During the Depression, most Americans knew great hardship.

Because of this, a generation was scarred by suffering in ways that later generations were not.

What were some important details about life during the Depression?

dust storms

migrants

lack of jobsruined farms

escapist art

portrayed hard times

movies for recreation

CIO

sit-down strike

growing strength of

labor

homelessness

unemployment

breadlines

hunger

ImageDust Bowl Family Life

Art Labor Unions

Life During the Depression

• How did storms in the Dust Bowl contribute to economic problems?

• What effect did the Depression have on families?

• How did Eleanor Roosevelt help her husband, the president?

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Recognizing Effects

What were some positive and negative results of the government’s policies toward minorities during the Depression?

Think About

• African Americans

• Mexican Americans• Native Americans

Main Idea

Why It Matters Now

The Depression and the New Deal had many long-term effects on U.S. government and society.

Politicians still debate how large a role government should play in American life.

What are the legacies of the Depression and New Deal?

• a national pension system

Legacy of the Depression and New Deal

• agricultural price supports

• protection for savings

• regulation of the stock market

• oversight of labor practices

• What psychological impact did the Depression have on many Americans?

• What finally pulled the United States out of its economic depression?

• How do today’s political differences date back to the Depression?

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Drawing Conclusions

Of the following New Deal programs, which one do you think affects your life the most?

Think About

• Social Security

• Federal Deposit Insurance Corporation• Securities and Exchange Commission

REVIEW QUESTIONS

ANSWERS: READ AND TAKE NOTES

1 Why did stock prices fall so quickly during the stock market crash?

2 Who did President Hoover think should help the needy?

3 How did MacArthur’s attack on the Bonus Army affect the 1932 election?

4 What was the “brain trust”?

5 What were fireside chats, and how did they affect the country?

6 Why didn’t Roosevelt propose many new programs during his second term?

7 How did writers and filmmakers respond to the hard times?

8 What new bargaining tactic did labor unions use, and how did it work?

9 How did the New Deal change the role of the federal government in American life?

10 What New Deal program remains popular even though it is in financial trouble?

Effectiveness Effectiveness

Citizens’ Responses

Effectiveness

Hoover’s Responses FDR’s Responses

Answers will vary.

• didn’t interfere in economy

• rugged individualism• encouraged charity • limited, late relief

efforts

• tried new ideas • fireside chats • New Deal • Second New Deal

• Rejected Hoover and supported FDR

• turned to bread lines• recorded hard times

in art • developed fear of

the future

Answers will vary. Answers will vary.

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GREAT DEPRESSION

Evaluating

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