the great depression of the 1930’s
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THE GREAT DEPRESSION
OF THE 1930’S
Brother can you spare a dime?
Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418Mladenović Filip 07/Mladenović Filip 07/257257 Mitrović Peđa 07/272 Mitrović Peđa 07/272
Introduction
Worldwide economic downturn USA1929 - ?Social and cultural effects
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Black Thursday, Oct. 24, 1929, the day the New York stock market
crashed
Causes
Declines in consumer demandFinancial panicsMisguided government policiesThe gold standard
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Unemployed men vying for jobs
Roaring twenties
An era of great economic prosperity
Or of an artificial boom?
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Stock market crash
Stock market speculations
Black Thursday, Oct. 24, 1929.
Black Tuesday, Oct. 29, 1929
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The Perfect storm
Banking panics
Monetary contraction
The gold standard
Milton Friedman
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Implemented economic policies during President Hoover
President Hoover (in office 1929-1933) His aggressive actions done to stem depression by using the power of federal government were a failure.Smooth-Hawley Tariff Act as a response to Great Depression
Was he a really liberal president?
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Another response Glass-Steagall Act
The first Glass-Steagall Act was passed in 1932 in an effort to stop deflation.
The second Glass-Steagall Act was passed in 1933 in reaction to the collapse of the American commercial banking system.
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Economic decisions of President Roosvelt
President Roosvelt (in office 1933-1945)The New Deal – Two main goals were to help the troubled economy and to introduce major reforms into capitalism. First New Deal took place between
1933 and 1935 and was focused on both farms and factories.
The Second New Deal, introduced in 1935, added Social Security.
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Franklin D. Roosevelt
STRUCTURE OF AMERICAN SOCIETY
DISINTEGRATES
Banks collapsed, factories closed down
Massive unemployment
No food, no clothes, no jobs Migrant Mother, 1936.
AMERICAN DREAMS ARE SHATTERED
14 million Americans are jobless People would work for 10 cent per hour2 hamburgers=5 cents5.000 banks failedIncome per capita fell from $700 to $400 US unemployment
Culture and society
HoovervillesHemorrhage of talent“Common man”Marxism, the Soviet Union
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Hooverville
Popular culture
Amusements Games Night clubs Movies Music
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"If, with all the advantages I've had, I can't make a living, I'm just no good, I guess.""If, with all the advantages I've had, I can't make a living, I'm just no good, I guess." An unemployed Texas schoolteacher, 1933. An unemployed Texas schoolteacher, 1933.
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Thank you for your Thank you for your attention!attention!
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