Oct 14th notes

Oct 14th notes - Depression: -descent into depression...

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Depression: -descent into depression -hoover’s response -first new deal -federal relief -farm crisis -regulating industry -second new deal -social security -labor -crisis of the new deal dust bowl private charitable funds unemployment insurance - not present no social security no food stamps Hoover’s response: republican look to federal government for help brought well established conception to what government was - associationalism gov role is to gather good economic info, encourage voluntary operation, not intervene with businesses agricultural marketing act - purchase and distribute surplus crops market then crashes hoover turns to increasing active intervention proposes Reconstruction Finance Association - loan money to revive large corporations signs Smoote-Holley Tariff - guarantees international trading will slow down protect domestic economy hurts economy of weaker nations as a result from WWI summary: response is minimal, try to restart industry renominated for election in 1932 vs Roosevelt Roosevelt - provide government relief for the poor
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Oct 14th notes - Depression: -descent into depression...

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