Great Depression Ultimate Review - Ace Your Test in 10 Minutes!

Summary

In this engaging and informative video, Mr. Betts prepares students for their Great Depression test by covering key events, people, and programs of the era. He explains the causes of the Great Depression, including the stock market crash, economic disparities, and overproduction. The video highlights the role of President Hoover, the impact of FDR's New Deal programs, and the cultural and social changes during this time. With memorable acronyms for each New Deal initiative, the video offers a concise overview of this pivotal historical moment, helping students grasp the key concepts and prepare for their test.

Takeaways

• 😀 The Great Depression was a worldwide economic downturn that began in the U.S. in 1929 and lasted through the 1930s, caused by factors like overproduction, wealth inequality, and poor credit.
• 😀 The stock market crash of 1929 marked the beginning of the Depression, but it was not the sole cause; underlying issues had been building for years.
• 😀 Herbert Hoover, the president at the time, believed in 'rugged individualism,' which led to inadequate government intervention during the crisis, making him unpopular.
• 😀 Hoovervilles were makeshift communities built by homeless people during the Great Depression, named after President Hoover, symbolizing his failure to address the crisis.
• 😀 The Bonus Army, a group of World War I veterans, marched to Washington seeking early payment of their promised bonuses, but Hoover responded by forcefully breaking up the protest.
• 😀 Franklin D. Roosevelt (FDR) was elected in 1932 and implemented the New Deal, a series of programs designed to provide relief, recovery, and reform to combat the Great Depression.
• 😀 The first New Deal included initiatives like the CCC, TVA, AAA, PWA, and FDIC, aimed at providing jobs, restoring faith in banks, and stabilizing the economy.
• 😀 The second New Deal introduced programs such as the WPA, the Social Security Act, and the Wagner Act, which further expanded government assistance and workers' rights.
• 😀 The Dust Bowl, a severe drought in the Great Plains, worsened the economic situation and led many farmers (Okies) to migrate westward in search of work.
• 😀 While the U.S. focused on domestic recovery, fascism and communism were rising in Europe and Russia, with leaders like Mussolini and Hitler gaining power, which would eventually lead to World War II.

Q & A

What was the main cause of the Great Depression?

The Great Depression was caused by multiple factors including the stock market crash of October 1929, overproduction in factories, the increasing wealth gap between the rich and poor, and poor banking and credit practices.

What role did the stock market play in the Great Depression?

The stock market crash in October 1929 marked the beginning of the Great Depression, although it wasn't the sole cause. It triggered widespread economic panic, leading to massive unemployment and the collapse of many businesses and banks.

How did buying on margin contribute to the economic downturn?

Buying on margin allowed investors to borrow money from brokers to buy stocks. When the market crashed, many people could not pay back their debts, leading to massive losses and financial instability.

What was the impact of the Hawley-Smoot Tariff during the Great Depression?

The Hawley-Smoot Tariff was a protective tariff that increased taxes on imported goods, which severely disrupted international trade and exacerbated the global economic downturn as other countries retaliated with tariffs of their own.

How did the Bonus Army's protest highlight President Hoover's policies?

The Bonus Army, made up of World War I veterans, camped out in Washington, D.C., demanding early payment of a promised bonus. Hoover's harsh response, which involved sending in the army to break up the protest, contributed to his negative reputation during the Great Depression.

What was the significance of Franklin D. Roosevelt's first 100 days in office?

Roosevelt's first 100 days were marked by the introduction of a series of programs and reforms known as the First New Deal, aimed at providing relief, recovery, and reform to help the U.S. economy recover from the Great Depression.

What were some key programs introduced during the First New Deal?

Key programs included the Civilian Conservation Corps (CCC), the Federal Emergency Relief Administration (FERA), the Agricultural Adjustment Act (AAA), and the Tennessee Valley Authority (TVA), among others.

How did the Second New Deal differ from the First New Deal?

The Second New Deal, introduced in 1935, focused on more extensive reforms aimed at long-term economic security, such as the Social Security Act, the Fair Labor Standards Act, and the Works Progress Administration (WPA).

What was the Dust Bowl and how did it affect American farmers?

The Dust Bowl was a period of severe dust storms in the Great Plains during the 1930s, which led to the loss of farmland and forced many farmers, known as 'Okies,' to migrate in search of work and better living conditions.

How did the Great Depression impact minority groups in the U.S.?

The Great Depression disproportionately affected minority groups. African Americans faced increased discrimination and job losses, while Mexican immigration was reversed with many Mexicans being deported or encouraged to return to Mexico.