History MinuteChapter 6

Michael Finazzo, Brian Sierotnik

Great Depression

Began with the collapse of the stock market in October 1929There was a four year period of denial between 1929-1933There have been as many as 47 recessions in American history, the latest occurring in late 2007 through 2009

“Quiz” Question

What event marked the beginning of the Great DepressionA)ProhibitionB)Collapse of the stock marketC)WarD)Social Security

Social Welfare Problems during the 1930’s

Stock Market Crash led to financial crisis:- Massive unemployment - Depressed stock prices- Lost fortunes/savings - Bankrupt companies

No tangible government welfare system to speak of:- Hoover believed in private agencies & local governments to

provide relief and “trickle-down” economics.

Contradictory forces which tempered early reform policies:- FDR had strong support from middle and working class, but

opposition from both political parties.

“Quiz” Question

What approach best exemplifies the US government’s social welfare policy entering the 1930’s?A) All for one, and one for all (Three Muskateers)B) Take from everyone, and give to the poor (Robin Hood)C) Stuffing any extra cash into your mattress at the end of

each dayD) Reliance on private agencies and “trickle-down”

economics to provide relief