THE GREAT DEPRESSION

OF THE 1930’S

Brother can you spare a dime?

Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418Vojnović Milena 07/768 Krulj Tijana 07/919 Ćurčija Lazar 07/418Mladenović Filip 07/Mladenović Filip 07/257257 Mitrović Peđa 07/272 Mitrović Peđa 07/272

Introduction

Worldwide economic downturn USA1929 - ?Social and cultural effects

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Black Thursday, Oct. 24, 1929, the day the New York stock market

crashed

Causes

Declines in consumer demandFinancial panicsMisguided government policiesThe gold standard

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Unemployed men vying for jobs

Roaring twenties

An era of great economic prosperity

Or of an artificial boom?

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Stock market crash

Stock market speculations

Black Thursday, Oct. 24, 1929.

Black Tuesday, Oct. 29, 1929

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The Perfect storm

Banking panics

Monetary contraction

The gold standard

Milton Friedman

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Implemented economic policies during President Hoover

President Hoover (in office 1929-1933) His aggressive actions done to stem depression by using the power of federal government were a failure.Smooth-Hawley Tariff Act as a response to Great Depression

Was he a really liberal president?

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Another response Glass-Steagall Act

The first Glass-Steagall Act was passed in 1932 in an effort to stop deflation.

The second Glass-Steagall Act was passed in 1933 in reaction to the collapse of the American commercial banking system.

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Economic decisions of President Roosvelt

President Roosvelt (in office 1933-1945)The New Deal – Two main goals were to help the troubled economy and to introduce major reforms into capitalism. First New Deal took place between

1933 and 1935 and was focused on both farms and factories.

The Second New Deal, introduced in 1935, added Social Security.

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Franklin D. Roosevelt

STRUCTURE OF AMERICAN SOCIETY

DISINTEGRATES

Banks collapsed, factories closed down

Massive unemployment

No food, no clothes, no jobs Migrant Mother, 1936.

AMERICAN DREAMS ARE SHATTERED

14 million Americans are jobless People would work for 10 cent per hour2 hamburgers=5 cents5.000 banks failedIncome per capita fell from $700 to $400 US unemployment

Culture and society

HoovervillesHemorrhage of talent“Common man”Marxism, the Soviet Union

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Hooverville

Popular culture

Amusements Games Night clubs Movies Music

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"If, with all the advantages I've had, I can't make a living, I'm just no good, I guess.""If, with all the advantages I've had, I can't make a living, I'm just no good, I guess." An unemployed Texas schoolteacher, 1933. An unemployed Texas schoolteacher, 1933.

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Thank you for your Thank you for your attention!attention!

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