USA Unit 1(0.5) Flashcards
What was rugged individualism? What era?
-The belief that government intervention in the economy should be kept to a minimum. 1920s
What form of business did many Americans attribute their prosperity to in the 1920s?
-What evidence is there that Presidents supported this idea (1920s)?
-Big business.
-Harding declared that ‘we want less government in business and more business in government’.
-Coolidge’s victory in 1924 led to an extension of probusiness policies, low taxation and frugal government expenditures.
Although supporting rugged individualism, how did Hoover intervene in the economy far more than those before him?
-He stepped up the federal spending on roads.
-He set up the Federal Farm Board to bolster farm prices.
-He created the Reconstruction Finance Corporation to lend money to ailing banks, railroads and insurance companies.
-The 1932 federal budget ended up $2.7 billion in the red- the largest peacetime deficit in US history.
Why did Hoover’s critics claim his interventions were not enough?
-13 million Americans were unemployed in 1932.
-Many felt his actions were made too little too late.
When did Roosevelt pledge himself to the New Deal? What were the aims?
-1932.
-Roosevelt’s main concern was to get the USA on the road to recovery.
-He was convinced it was the government’s job to lead this and chose a more interventionist administration than Hoover’s.
What did Roosevelt do in his first 100 days in charge?
Examples?
-Took unprecedented action.
-Passed 15 major bills affecting unemployment, relief, industry, agriculture, banking, transport and currency.
What were the effects of the first New Deal? What was public opinion?
-First measures of its kind, scope and volume.
-The speed in which they were passed meant there had been some contradictions and overlap.
-There was also some well considered moves.
-Many were happy with the hands on nature of Roosevelt.
When did Roosevelt introduce his next set of New Deal measures? What was the impact & what did it include the creation of?
-1935.
-More sweeping than his first set of measures they shaped America for the next half-century.
-It included the creation of the Works Progress Administration, the Social Security Act, a new wealth Tax and the National Labour Relations Act.
What was the New Deal also known as? What was it ?
-‘The third American Revolution.’
-A modern American Welfare state, reduced autonomy of individual states.
-Transformation of the presidency institution making it the chief policy maker and focus of American’s hopes and expectations.
Why do some consider the New Deal a ‘halfway revolution’?
-The New Deal did not challenge the basic tenets of capitalism.
-Much of Roosevelt’s policy echoed Wilson and Hoover.
-The New Deal did not redistribute national income to any extent.
-Roosevelt was reluctant to engage in massive deficit spending.
