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THE GREAT DEPRESSION OF THE 1930’S

THE GREAT DEPRESSION OF THE 1930’S. Brother can you spare a dime?. Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418 Mladenović Filip 07/ 257 Mitrović Peđa 07/272. Introduction. Worldwide economic downturn USA 1929 - ? Social and cultural effects.

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THE GREAT DEPRESSION OF THE 1930’S

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  1. THE GREAT DEPRESSION OF THE 1930’S Brother can youspare a dime? Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418 Mladenović Filip 07/257 Mitrović Peđa 07/272

  2. Introduction • Worldwide economic downturn • USA • 1929 - ? • Social and cultural effects Black Thursday, Oct. 24, 1929, the day the New York stock market crashed harberger.wordpress.com

  3. Causes • Declines in consumer demand • Financial panics • Misguided government policies • The gold standard Unemployed men vying for jobs harberger.wordpress.com

  4. Roaring twenties • An era of great economic prosperity • Or of an artificial boom? harberger.wordpress.com

  5. Stock market crash • Stock market speculations • Black Thursday, Oct. 24, 1929. • Black Tuesday, Oct. 29, 1929 harberger.wordpress.com

  6. The Perfect storm • Banking panics • Monetary contraction • The gold standard Milton Friedman harberger.wordpress.com

  7. 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? harberger.wordpress.com

  8. 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. harberger.wordpress.com

  9. 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. Franklin D. Roosevelt harberger.wordpress.com

  10. STRUCTURE OF AMERICAN SOCIETY DISINTEGRATES • Banks collapsed, factories closed down • Massive unemployment • No food, no clothes, no jobs Migrant Mother, 1936.

  11. AMERICAN DREAMS ARE SHATTERED • 14 million Americans are jobless • People would work for 10 cent per hour • 2 hamburgers=5 cents • 5.000 banks failed • Income per capita fell from $700 to $400 US unemployment

  12. Culture and society • Hoovervilles • Hemorrhage of talent • “Common man” • Marxism, the Soviet Union Hooverville harberger.wordpress.com

  13. Popular culture • Amusements • Games • Night clubs • Movies • Music harberger.wordpress.com

  14. "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. harberger.wordpress.com

  15. harberger.wordpress.com harberger.wordpress.com

  16. Thank you for your attention!  harberger.wordpress.com

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