Causes of the Depression
This caused widespread debt.
What is increased use of credit?
These were what shantytowns were called.
What are Hoovervilles?
This provided electricity to rural south.
What is the Tennessee Valley Authority (TVA)?
A series of radio broadcast led by FDR about the New Deal.
What are the fireside chats?
They marched on Washington in protest.
Who are the Bonus Army?
This allowed people to pay for something slowly over time.
What is the increased use of installment buying?
People called the inside of their pocket this.
What are Hooverflags?
This gave jobs to men between 18-25.
What is the Civilian Conservation Corps (CCC)?
These are the three Rs.
What are relief, recovery, and reform?
Hoover used them against the protesting WWI soldiers.
Who is the US military?
This is called buying stocks on margin.
What is borrowing money to purchase stocks?
This was a nickname for newspapers.
What are Hoover blankets?
This is insurance for people's money in the banks.
What is Federal Deposit Insurance Corporation (FDIC)?
This was the goal of creating more jobs.
What is to stimulate the economy and put money into circulation?
Hoover believed this would happen to the economy if he left it alone.
What is right itself (invisible hand)?
Overproduction of crops led to drastic devaluation of prices causing this to occur.
What is collapse of the farming economy?
This is how we characterize Hoover's response to the Depression.
What is "too little, too late" or conservative response?
This hired people, including artists, for public works projects.
What is the Works Progress Administration (WPA)?
FDR used a deficit budget to do this...
What is create government programs and agencies.
Hoover's belief that people were responsible for their own economic situation.
What is Rugged Individualism?
This caused global trade to shut down.
What is the Smoot-Hawley Tariff?
This was Hoover's plan to bail out big businesses and banks.
What is the Reconstruction Finance Corporation (RFC)?
This paid farmers money to not produce crops.
What is the Agricultural Adjustment Act (AAA)?
The use of a deficit budget aligns with this type of economic philosophy.
What is Keynesian economics?