World after WWI
This continent was devasted after WWI.
What is the economic state of Europe after WWI?
The stock market crashed on this day, which led to the mass panic selling of stocks.
What is Black Thursday?
This man was the President during this era and came up with a series of "New Deals"
Who is Franklin D. Roosevelt?
This country became an economic superpower
What is America after WWI?
Too many products were being produced and not enough people were buying.
What is overproduction?
Roosevelt aimed for Recovery, Relief, and Reform.
What were Roosevelt's New Deals aiming for?
Demand for crops drops, leaving farmers with overproduction and quickly dwindling incomes. Many lose farmland to foreclosure as they are unable to pay off debts.
What are the troubles in the agriculture sector?
Banks start collapsing and people lose their entire savings accounts as banks are unable to keep up with large numbers of cash withdraws
What is the bank collapse?
What is the Social Security Act?
Mass economic boom in America which people have extra money to spend and have little worry for the economy.
What is the Roaring 20s?
This went largely ignored as more and more people took out loans and did not pay them back. They used these loans to buy anything from stocks to new appliances, to cars.
What is the economic "bubble"?
New federal laws were put into place to protect bank deposits and prevent another mass bank collapse.
What is FDIC?
The top 1% owned more wealth than the bottom 90% combined, and it was steadily growing. A large portion of Americans lived in poverty.
What is wealth inequality?
More and more people were given lay-offs and told not to come to work. Many businesses could no longer afford their workforce if they wished to stay open (and many did not in the end).
What is unemployment?
Roosevelt aims to squash unemployment by hiring young men and women for jobs ranging from farming federally owned lands to public works projects such as road building or mural painting.
What is WPA and the CCC?