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The existential fear that gripped a world defined by the collapse of capitalism and the rise of competing dictatorship help create a new national state to manage capitalism and assert global power
Herbert Hoover : A Republican, President Hoover began to take actions to increase business profits, believing business prosperity would “trickle down” to the average American by way of employment and increased income. To accomplish this, he cut taxes and created the Reconstruction Finance Corporation. However, this
was too little too late.
First 100 Days : the time period FDR requested from the people to let him make a difference. It runs from March 9, 1933 until June 16, 1933.Congress passed more than 15 major pieces of New Deal Legislation They represent a response to the immediate emergency. Review: The Government's Role in the Economy
Relief FDR wanted relief given to persons in need by providing them with money, loans and jobs.
Measures adopted to restore confidence and provide support … largely successful, some evolved standard banking policy
Emergency banking bill Glass Steagall Act to curb speculation
Civilian Conservation Corps to provide work for unemployed youth Works Progress Administration to provide work
Public Works Administration
Recovery FDR wanted to provide recovery for business and agriculture by passing laws that would assist them in getting back on their feet
Measures adopted to provide economic recovery; effective in the short term? … but were controversial and led to a discussion of government role … e.g., supreme court ruling on TVA and NRA
Tennessee Valley Authority for regional development and energy generation
Agricultural Adjustment Act to control production levels
National industrial Recovery Act to curb over production
National Recovery Act to establish codes and price quotas
Reform FDR wanted to establish reform by passing legislation that would prevent another depression from ever happening again
Measures focused on reforming business practices; milestone measures in creation of the modern welfare state?
Securities and Exchange Commission to regulate stock market
Federal Deposit Insurance Corporation to insure bank deposit
Wagner Act: establishes the National Labor Relations Board; offers protection for labor
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