Exam 3 Flashcards
The Great Depression
1930s- World Wide economic disintegration
Causes:
-End of World War One and Unequal Wealth Distribution
-Declining Exports – From agriculture to industry
- Overproduction is rampant – coal, oil, corn and wheat
- Badly managed banks
(No line between investing and savings)
-High protective tariffs worldwide – economic protectionism
- Higher taxes on average Americans
New Deal
Proposed by FDR - political program during election
Slogan: “the forgotten man”
Unemployment Relief
Conservation
Social Welfare
SSA
Social Security Administration
-Unemployment compensation
-Old age pensions
- Aid for needy mothers and children
- Aid for blind / disabled
NRA
National Industry Recovery Act
-Created public works program (Reduces Unemployment)
-Guaranteed workers right to unionize and engage in collective bargaining
-Blue Eagle – Slogan “We Do Our Part”
TVA
Tennessee Valley Authority
Development of T river
provides water, power, jobs
Causes of WW2- Germany
Versailles Treaty
-German War Guilt Clause
-Loss of territory
-Reparations – Money and Resources (France gets
the Saar Region of Germany.
-Loss of Navy / Army limited to 100,000
-Betrayed by Socialist / Communist led strikes of
workers and citizens in 1918
-Betrayed by Jews / International Jewish Conspiracy
-Betrayed by their political leaders who signed the
treaty. Germany not actually defeated, but “stabbed in
the back” by the “November Criminals.”
-Great Depression. However, even before the
Depression, Germany suffered from Mass Inflation of
currency by 1923. One Ounce of Gold is worth 1
Trillion Marks. France seizes the Ruhr Region
-Poor German economy blamed on others – Jews,
Communists and the West
Causes of WW2- Japan & Italy
Japan:
- Feels locked out of world order - wants recognition - not recognized as a world power
-Creates East Asia Co-Prosperity Sphere
U-2 Spy Plane Affair
1960
-Soviet Union shot down a US U-2 spy plane flying over Soviet airspace
a. The plane was piloted by Francis Gary Powers
