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Compare Herbert Hoover's hands-off approach with Franklin Roosevelt's interventionist policies during the Great Depression. Analyze volunteerism, localism, and governmental intervention. Explore the impact of RFC, FDIC, NRA, CCC, PWA, AAA, TVA, and HOLC. Which approach was more effective in tackling the economic crisis?
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Presidential Approach to The Problems of the Great Depression • Herbert Hoover • Hands off/ felt the economy had natural upswings and downturns • Volunteerism: contribute to charities/money, clothing food • Asked businesses to hold wages, prices and employment at current levels • Asked the government to cut taxes, lower interest rates and create public work projects • Localism: problems should be solved by state and local governments • Rugged individualism • Reconstruction Finance Corporation: Trickle down economics • Franklin Roosevelt • Governmental intervention in the Economy • Relief, Reform, Recovery • Fireside chats • First 100 days? Restore confidence. • Successes of first 100 days: • FDIC: Federal Deposit Insurance Corp • NRA: National recovery Administration • CCC: Civil Conservation Corp • PWA: Public Works Administration • AAA: Agricultural Adjustment Act • TVA: Tennessee Valley Authority • HOLC: Home Owners Loan Corporation