HIS271Y1 Lecture Notes - Lecture 13: Insider Trading, Dust Bowl, Public Works Administration
Document Summary
Initial responses: herbert hoover: onset of the great depression, life in the depression. 3: franklin d roosevelt and the new deal, reform and the second new deal, evaluating the new deal. Domestic and international factors caused the economy to go into depression. Depressions aren"t new in the us they happen often . Distorted economy unequal share of wealth most of americans lived on less than the 2000 a year that economists said would just let them get by wealth in. Anybody could essentially open a bank this caused a problem. By 1932 over 30 banks had closed leaving over 2. 5 million dollars in savings wiped out. Detroit and michigan more than 50% unemployed. Family and friends did what they could and when they couldn"t people turned to government aid groups and finally public relief aka welfare. Number of diseases because food deficiency people are digging in wealthy people and store garbages hobos everywhere travelling for food, shelter, income.
