The Great Depression and The New Deal Flashcards
Bring individual desires
in line with community
— participate in its
flourishing is a definition for ….
Ancient liberty/ freedom
The founding of America was all about….
protection
of individual rights and
liberties
After the civil war freedom in America was altered by….
transfer of
power to national
government to protect
rights and liberties for
all
The Progressive Era was all about Protection of individual
from __________ power.
private
The New Deal brought ___________
to the individual from too
much want or suffering.
protection
“A significant decline in economic activity spread across the
country, lasting more than a few months” is a……
recession
A very serious and sustained recession is called a _____________.
depression
Why Do Recessions or Depressions
Occur?
A negative shock hits the country Example: stock market correction, oil price increase, bank panic, pandemic
When the stock market crashed, it lost about ____ of its value.
90%
The Federal Reserve did not stop banks from failure or increase the money supply after the stock market crashed. T or F?
T
What environmental disaster contributed to the Great Depression?
The Dust Bowl (caused by severe drought)
“Use of the authority of government as an
organized form of self-help for all classes
and groups and sections of our country” is a quote used to describe what?
FDR’s “New Deal”
Who won the presidential election in 1932 between candidates FDR and Herbert Hoover?
FDR; by a lot!
“The only thing we have to fear is fear itself.” is a quote said by who and in what address?
FDR; First Inaugural Address
Who said, “Our greatest primary task is to put people to work. This is no
unsolvable problem if we face it wisely and courageously. It can
be accomplished in part by direct recruiting by the Government
itself, treating the task as we would treat the emergency of a
war …”?
FDR
FDR used what methods to stabilize personal situations?
Relief Efforts (WPA, CCC, and the AAA), Minimum Wage, and Social Security
What is the WPA?
Works Progress Administration; gov employed millions to build roads, bridges, and schools.
What is the CCC?
The Civilian Conservation Corps: Roosevelt employed young men to help in the effort of conserving America’s natural resources and run national parks.
What is the AAA?
The Agricultural Adjustment Act; The AAA’s goal was to raise crop prices by reducing overproduction to help farmers.
FDR stabilized the financial system by forming was organizations?
SEC
FDIC
NLRB
Economic security is a right,
Freedom is not the absence
of government, but the
absence of fear and want, and
Positive liberty are all arguments made by who?
FDR
What are FDR’s four freedoms?
Freedom of speech and
expression
Freedom of religion
Freedom from fear
Freedom from want
Don’t forget more traditional visions of freedom and rights or the need
for limited government,
Increasing bureaucratization can mean a loss of freedom, not an
increase of freedom, and
Emphasis on negative liberty are all arguments made by who?
Hoover
What was Hoover’s fifth freedom?
Economic freedom
“To be free, men must choose
their jobs and callings, bargain for
their own wages and salaries, save
and provide by private property for
their families and old age. And
they must be free to engage in
enterprise so long as each does
not injure his fellowman.” was said by who and for what purpose?
Hoover, to support the idea of economic freedom
Who said, “Government must not destroy
but promote freedom… No nal
judicial or legislative authority
must be delegated to
bureaucrats, or at once tyranny
begins.”?
Hoover
Hoover believed that government assistance should only cover the bare minimum. T or F?
T
During recessions, the government
should spend more and tax less! defines what?
Fiscal policy
What is the danger of fiscal policy?
Gov not being able to repay their debts
During recessions, the Federal
Reserve should increase the
money supply and keep
interest rates low defines what?
Monetary policy
What is the danger of monetary policy?
More money = more inflation
The ________ _______ introduces a new conception of the relationship between
the people and government.
New Deal
On the New Deal understanding, government has an affirmative role to
play in creating economic __________.
security
Who raised concerns about the New Deal?
Hoover
