1930s Economic and New Deal Study Guide
1930s Economic and New Deal Study Guide
Eleanor Roosevelt redefined the role of First Lady by actively involving herself in political, racial, and social issues. She acted as Franklin Roosevelt’s eyes and ears by traveling to gather information and advocating for civil rights, women's rights, and children's welfare, influencing the direction of New Deal policies .
Buying on the margin allowed investors to purchase stocks with a small down payment, borrowing the rest of the funds. This led to inflated stock prices as more people bought stocks without having full funds available, causing an unsustainable bubble. When stock prices began to fall, investors couldn't cover their loans, leading to mass sell-offs and the market's subsequent collapse .
President Hoover believed in a more hands-off approach, advocating for voluntary cooperation and limited government intervention. In contrast, President Roosevelt implemented the New Deal, a series of programs aimed at active government intervention to provide relief, recovery, and reform. Roosevelt’s approach was more direct and involved significant expansion of federal government roles to address economic and social issues .
The Mexican Repatriation, which involved the mass deportation of Mexicans and Mexican Americans, reflected the socio-economic tensions as Americans sought to alleviate job competition and financial strain. This government action was driven by economic desperation and racial prejudice, causing significant disruptions to the affected communities .
The Fair Labor Standards Act established minimum wage laws, maximum hours to a standard 40-hour workweek, and restrictions on child labor, significantly improving working conditions. It aimed to protect workers from abuse, set fair labor standards, and reduce unfair competition by standardizing wages .
The Dust Bowl was caused by a combination of severe drought and improper farming practices that removed protective prairie grasses, leading to significant soil erosion. The consequences included agricultural collapse, displacement of rural populations, and massive migrations, particularly to California, further straining resources during the Great Depression .
The Tennessee Valley Authority (TVA) aimed to modernize the region's economy and society through flood control, electricity generation, and the improvement of navigability of the Tennessee River. It sought to revitalize the impoverished and underdeveloped areas by providing jobs, improving infrastructure, and promoting agricultural development .
Key legacies of the New Deal include the establishment of Social Security and increased federal government intervention in economic affairs. Social Security created a safety net for the elderly and unemployed, while federal agencies like the SEC and FDIC continue to regulate financial institutions, ensuring economic stability .
Dorothea Lange's photography during the Great Depression provided a poignant and powerful depiction of American poverty and suffering, raising public awareness and influencing social policy. Her work, including the famous 'Migrant Mother' photograph, helped humanize the plight of the poor and encouraged government action to provide relief .
Liberals generally supported the New Deal, seeing it as necessary government intervention to aid recovery and reform. Conservatives often criticized the New Deal for expanding government and undermining individual liberties. Radicals sought more profound changes than those implemented, advocating for systemic economic reforms. These conflicting ideologies shaped political discourse and policy during and beyond the New Deal era .