The Great Depression

Roaring 20's

*Warren Harding (1921-1923)

Return to"normalcy"

Isolationism

Laissez-faire capitalism

Birth of Consumer Society

Consumer goods

Automobiles

Ford Model T

Electrical appliances

Business practices

Mass production

Advertising

Loans

Stock market crash, October 29, 1929

Stock speculation

Rising vs. falling market

Crisis spreads to Europe

American banks call in loans

British and French war debts

German war reparations

Treaty of Versailles, 1919

$33 billion

Video: Breadline

Aside from the Euro-American banking crisis, why did the Depression spread globally?

What were some of the effects of the Great Depression on common people?

What was the role of governments dealing with the the economic downturn and problems caused by it?

The Great Depression

Global Crisis

Industrialized countries

Ships in Jarrow, England

Non-Western countries and colonies

Copper and nitrate in Chile

Herbert Hoover (1929-33)

Lack of government intervention

Balanced budgets

Smoot-Hawley Tariff

Lack of government relief

Reliance on charity

*Franklin Delano Roosevelt (1933-1945)

The New Deal

Banking Act

Reserve requirements

Federal Deposit Insurance Company (FDIC)

*Civilian Conservation Corps (CCC)

*Works Progress Administration (WPA)

Public buildings, bridges and dams

Social Security

*"Fireside chats"

Significance

Economic impact

Political impact

Increased government’s role in economy

Preserved American political system

Study Questions-Lecture

1. What is consumer society? Why does it appear in the 1920s in America?

2. What were the causes of the Great Depression?

3. What was the New Deal and what were its effects on America?

Study Questions-Reading

Hansen 812-18

1. What were the causes of the Great Depression? Why did it begin in America and spread worldwide?

Pomeranz 205-207

1. How did advertisers popularize new standards of personal hygiene in the 1920s in order to sell soap and mouthwash?