The Great Depression and the Environmental Catastrophe of the Dust Bowl
The Great Depression, marked by the 1929 stock market crash, led to widespread economic hardship throughout the 1930s. Coupled with the environmental disaster of the Dust Bowl, it prompted President Roosevelt's New Deal, introducing significant economic and social reforms. These measures, including the AAA, NRA, and Social Security Act, aimed to stabilize the economy and provide relief. The era's cultural impact is evident in literature, reflecting the societal struggles of the time.
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The Great Depression and the Environmental Catastrophe of the Dust Bowl
The Great Depression, a devastating economic downturn, began with the stock market crash of 1929 and lasted throughout the 1930s. It was during President Franklin Delano Roosevelt's term, starting in 1933, that significant efforts to address the crisis were implemented. Concurrently, the Dust Bowl, a severe ecological disaster caused by drought and poor agricultural practices, exacerbated the plight of American farmers, leading to widespread poverty and migration. The Roosevelt administration introduced the New Deal, a series of programs and reforms designed to revitalize the economy, provide relief to the suffering population, and prevent future economic disasters.Emergency Measures and Regulatory Reforms
To stabilize the banking system, the Roosevelt administration passed the Emergency Banking Act during a nationwide bank holiday in 1933, which allowed the reopening of solvent banks under strict conditions. The Securities Act of 1933 and the Securities Exchange Act of 1934 were enacted to regulate the stock market and protect investors, leading to the establishment of the Securities and Exchange Commission (SEC). The Federal Deposit Insurance Corporation (FDIC) was created to insure bank deposits, and the Glass–Steagall Act was implemented to separate commercial and investment banking, reducing the risk of future financial crises.Revitalizing Agriculture and Industry
The Agricultural Adjustment Act (AAA) was introduced to stabilize agricultural prices by controlling production. The National Recovery Administration (NRA) sought to revitalize industry by establishing fair competition codes, setting minimum wages, and promoting labor rights. Despite its initial success, the NRA was struck down by the Supreme Court in 1935 for overstepping federal authority. This led to the development of new strategies to support both farmers and industrial workers in the ongoing economic recovery.Environmental Restoration and Job Creation
The Civilian Conservation Corps (CCC) was a hallmark of the First New Deal, providing jobs for young men in environmental conservation projects, which helped to combat soil erosion and deforestation while offering economic relief. The Reconstruction Finance Corporation and other agencies were also established to provide financial support to struggling businesses and local governments, thereby stimulating economic growth and employment.Expanding Social Welfare and Labor Rights
The Second New Deal, launched in 1935, built upon the foundation of the First New Deal with significant social welfare and labor reforms. The Social Security Act established a system of old-age benefits and unemployment insurance. The Works Progress Administration (WPA) created millions of jobs in public works projects, and the National Labor Relations Act strengthened the position of labor unions. These measures marked a significant increase in federal involvement in the economy and social welfare, which was controversial at the time but laid the groundwork for the modern social safety net.Recovery and the Recession of 1937-1938
By 1936, the economy had shown signs of recovery, but unemployment remained a persistent problem. In 1937, the Roosevelt administration's decision to reduce government spending and increase taxes led to a sharp economic downturn, known as the Roosevelt Recession. The economy began to recover in 1938, and the outbreak of World War II eventually led to a significant reduction in unemployment and an increase in industrial production, effectively ending the Great Depression.Cultural Reflections of the Great Depression
The Great Depression has been immortalized in American literature and culture, with authors like John Steinbeck capturing the hardships of the era in novels such as "The Grapes of Wrath" and "Of Mice and Men." The Federal Writers' Project supported the documentation of the period through various works of social realism. For younger readers, historical fiction series like "Kit Kittredge" from the American Girl collection and the "Dear America" series offer insights into the lives of those affected by the Depression, illustrating its widespread impact on American society.Historical Terminology of Economic Downturns
The term "The Great Depression" was coined to describe the economic crisis of the 1930s, a label that became widely accepted in the historical lexicon. Prior economic downturns were often referred to as "panics" or "depressions," with the term "The Great Depression" initially used for the period of 1873–96, now known as the Long Depression. The nomenclature of these events reflects the evolving understanding of economic cycles and their societal impacts.Comparing Economic Crises Across History
The Great Depression is often compared to other economic crises, such as the collapse of the Soviet Union and the global financial crisis of the late 2000s. While there are parallels in terms of economic disruption and the role of government policy, each crisis is unique in its causes, scope, and the policy responses it elicited. The late-2000s crisis, sometimes called the Great Recession, saw proactive measures by central banks, including the Federal Reserve, which drew on historical lessons from the Great Depression to prevent a similar economic collapse.Want to create maps from your material?
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1
Start and duration of the Great Depression
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President during the Great Depression
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Purpose of the New Deal
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4
In 1933, to ensure the stability of banks, the ______ administration enacted the ______ during a countrywide bank closure.
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5
The ______ of 1933 and the ______ of 1934 were passed to oversee the stock market and safeguard investors, leading to the creation of the ______.
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6
The ______ was established to provide insurance for bank deposits, while the ______ Act enforced a separation between commercial and investment banking.
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7
Purpose of AAA
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NRA's role in industry
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NRA Supreme Court ruling, 1935
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10
The ______ was a key element of the First New Deal, focusing on environmental conservation and providing employment for young men.
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11
The ______ Finance Corporation was created to offer financial assistance to businesses and local governments in distress.
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Reconstruction
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By supporting businesses and municipalities financially, the ______ aimed to foster economic growth and increase job opportunities.
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Reconstruction Finance Corporation
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Social Security Act Purpose
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Established old-age benefits, unemployment insurance, aiding economic security.
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Works Progress Administration Role
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Created jobs through public works projects, boosting employment and infrastructure.
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National Labor Relations Act Impact
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Strengthened labor unions, allowing collective bargaining, protecting workers' rights.
16
By ______, the economy began to improve, yet joblessness was still an issue.
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1936
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The ______ administration's choice to cut spending and hike taxes in ______ resulted in a severe economic slump.
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18
The economic situation started to get better in ______, following a downturn known as the Roosevelt Recession.
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19
John Steinbeck's role during the Great Depression
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Federal Writers' Project purpose
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Depression-era insights for younger readers
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22
The phrase 'The Great Depression' refers to the severe ______ turmoil of the ______.
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23
Unique causes of the Great Depression
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Scope of the Great Depression
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Policy responses to the late-2000s crisis
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