Power Presentations
CHAPTER 26
Economics in History
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It’s 1932. The economy is bad, and millions of people are
out of work. Some are starving. Two men are running for
president. One says the government should give money
to the poor. The other says this will make people stop
looking for jobs. He wants charity groups to help people
in need.
Who do you think should help the poor?
• Is the government responsible for
everyone’s well-being?
• What responsibility do individuals have
to help others?
• What is the best way to help people out
of poverty?
1929 U.S. stock market crashes. Great Depression begins.
1931 President Hoover declares that the country
will work itself out of the Depression.
1932 Americans turn against Hoover. Franklin
Delano Roosevelt is elected president.
1933 Roosevelt initiates government programs to
help the economy.
1935 Congress passes the Social Security Act.
1936 Roosevelt is reelected.
1937 Roosevelt tries but fails to add justices to the
Supreme Court.
To World
1939 John Steinbeck publishes The Grapes of Wrath
about migrant workers.
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1931 Affected by the Depression, Japan invades
Manchuria, partially to expand its economy.
1933 Adolph Hitler becomes dictator of Germany.
1936 Léon Blum, socialist premier of France, introduces
reforms such as the 40-hour workweek.
1939 Germany invades Poland, starting World War II.
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Main Idea
After the stock market crash of 1929, the
U.S. economy sank into the worst depression
of its history.
Why It Matters Now
Today the government regulates banking
and the stock exchange to prevent such
severe depressions.
What events led from the stock market crash to massive
unemployment in the late 1920s?
Stock market
crash
Businesses
sold less and
laid off workers
Banks failed
massive
unemployment
• What weaknesses existed in the economy during
the 1920s?
• What is buying on margin, and how was it a
problem?
• Why did Hoover become unpopular with many
Americans?
Contrasting
How did Hoover’s view of the federal
government and that of most Americans
differ?
Think About
• Hoover’s attitude about federal relief
• why Americans blamed Hoover for their suffering
• what Americans might have expected from Hoover
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Main Idea
After becoming president, Franklin D.
Roosevelt took many actions to fight the
Great Depression.
Why It Matters Now
Roosevelt increased government’s role in
helping needy Americans and regulating the
financial industry.
What were FDR’s major programs? Was the goal of each program:
relief, recovery, reform, or a combination?
PROGRAM
GOAL
PROGRAM
GOAL
FERA
relief
NRA
PWA
relief
recovery
and reform
AAA
recovery
WPA
relief
REA
recovery
NYA
relief
Wagner Act
reform
Social
Security
relief and
reform
TVA
recovery
CCC
relief and
reform
FDIC
reform
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• How did Roosevelt give Americans hope?
• What happened during the period known as the
Hundred Days?
• What were the consequences of FDR’s attempt to
increase the size of the Supreme Court?
Analyzing Points of View
What were some of the different reasons
that people criticized FDR?
Think About
• the conservatives
• Huey Long, Father Coughlin, and Francis
Townshend
• those who opposed the “court-packing” bill
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Main Idea
During the Depression, most Americans knew
great hardship.
Why It Matters Now
Because of this, a generation was scarred
by suffering in ways that later generations
were not.
What were some important details about life during the Depression?
ruined farms
lack of jobs
dust storms
hunger
homelessness
Image
Dust Bowl
Life During
the Depression
migrants
escapist art
portrayed
hard times
Family Life
Art
unemployment
Labor Unions
movies for
recreation
breadlines
CIO
growing
strength of
labor
sit-down
strike
• How did storms in the Dust Bowl
contribute to economic problems?
Map
• What effect did the Depression have on families?
• How did Eleanor Roosevelt help her husband,
the president?
Recognizing Effects
What were some positive and negative results
of the government’s policies toward minorities
during the Depression?
Think About
• African Americans
• Mexican Americans
• Native Americans
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Main Idea
The Depression and the New Deal had many
long-term effects on U.S. government and
society.
Why It Matters Now
Politicians still debate how large a role
government should play in American life.
What are the legacies of the Depression and New Deal?
Legacy of the Depression
and New Deal
• a national pension system
• agricultural price supports
• protection for savings
• regulation of the stock market
• oversight of labor practices
• What psychological impact did the Depression
have on many Americans?
• What finally pulled the United States out of its
economic depression?
• How do today’s political differences date back
to the Depression?
Drawing Conclusions
Of the following New Deal programs,
which one do you think affects your life
the most?
Think About
• Social Security
• Federal Deposit Insurance Corporation
• Securities and Exchange Commission
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REVIEW QUESTIONS
ANSWERS: READ AND TAKE NOTES
1 Why did stock prices fall so quickly during the stock
market crash?
2 Who did President Hoover think should help the needy?
3 How did MacArthur’s attack on the Bonus Army affect
the 1932 election?
4 What was the “brain trust”?
5 What were fireside chats, and how did they affect
the country?
6 Why didn’t Roosevelt propose many new programs
during his second term?
7 How did writers and filmmakers respond to the
hard times?
8 What new bargaining tactic did labor unions use, and
how did it work?
9 How did the New Deal change the role of the federal
government in American life?
10 What New Deal program remains popular even though
it is in financial trouble?
Evaluating
GREAT DEPRESSION
Hoover’s Responses
• didn’t interfere in
economy
• rugged individualism
• encouraged charity
• limited, late relief
efforts
FDR’s Responses
• tried new ideas
• fireside chats
• New Deal
• Second New Deal
Citizens’ Responses
• Rejected Hoover
and supported FDR
• turned to bread lines
• recorded hard times
in art
• developed fear of
the future
Effectiveness
Answers will vary.
Effectiveness
Answers will vary.
Effectiveness
Answers will vary.
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