The New Deal (Henretta Ch. 24)

The New Deal (Henretta Ch. 24) - History 121 Diablo Valley...

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History 121 Diablo Valley College Dr. Kent Haldan Study Guide for Chapter 24: Redefining Liberalism: The New Deal, 1933-1939
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The Great Depression Q#1. Overview. Describe some general indicators of the dept of the first few Years of the Depression. Describe the shift in the images in the popular mind from the 1920s to the 1930s. Describe an economic problem of the 1920s that continued and became magnified in the 1930s. What event dominated and unified the history of the 1930s? (Chapter 23)
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The 1920s set the stage for the Great Depression C.Describe an economic problem of the 1920s that continued and became magnified in the 1930s. 1. During the 1920s there was an Unequal distribution of income: 40% of American families earned less than $725 per yr. ($8200 now) which left $135 after paying out for food, clothing and housing.
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The 1920s set the stage for the Great Depression 2. The Use of Installment plan to fill the gap would become a fatal flaw for consumer demand: The Great Depression crushed consumer demand. 3. Sick industries : Agriculture, railroads, coal. Most of the West’s Agricultural and extractive industries were sick (see Ch. 23 slides 82-85).
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Causes and Consequences: Stock Market Crash & Sick industries during the 1920s A-C. Causes and Consequences: Maldistribution of income & the convergence of declining industries: 1.From 1922 to 1927 Americans spent more than they earned. 2.Decline in consumption and housing construction: As they ran out of cash and credit, they spent less and then housing construction declined.
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A.Economic Decline of the US economy, 1929-1933 (Henretta): 1.Between 1929-1933, GNP declined by more than 35% Henretta: 103 B to 58B 2.Domestic investment declined 88% 3.Construction fell 78% 4. By 1933 Unemployment reached 25% 5.9000 banks closed and 100,000 businesses failed.
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Business Failures
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Unemployment, 1915-1945
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Causes and Consequences 3.Manufacturers cut back and laid off workers. 4.Meanwhile the stock market increased 40% from 1928 to 1929 as investors “got caught up in a speculative frenzy”—i.e., a bubble that burst.
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Shift in images & the dominant theme of the 1930s B. During the 1920s businessmen and CEO were dominant images in popular culture. However, during the 1930s these people were seen as incompetent at best and Other images: breadlines, men selling apples, the displace families migrating west. D. The Great Depression dominated the
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Q#2. The Causes of the Depression. What were some of the causes of the depression: the role of the stock market crash and economic structural weaknesses? What development made the depression self-perpetuating? (Chapter 23)
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The New Deal (Henretta Ch. 24) - History 121 Diablo Valley...

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