THE GREAT DEPRESSION

I. CAUSES

   A. FAILURE TO RECOVER FROM THE GREAT WAR

   B. WEAK BOOM, 1925-1928

   C. ECONOMIC STRAINS, 1928-1929

    D. BLACK TUESDAY, 29 OCT 1929

II. THE CONTRACTION OF 1930

   A. SMOOT-HAWLEY TARIFF

   B. FAILURE OF THE FED

   C. BANK RUNS: 1930, 1931, 1932-33

III. KRACH OF THE KREDIT ANSTALT, 1931

IV. THE NEW DEAL

   A. GOALS

        1. STOP DEFLATION

        2. RESTORE BANKING SYSTEM

        3. REDUCE UNEMPLOYMENT

        4. STIMULATE SPENDING

   B. BANKING AND FINANCE

        1. BANK HOLIDAY, 1933

        2. GLASS-STEAGALL ACT, 1933: FDIC

        3. BANKING ACT OF 1935

   C. REGULATION OF BUSINESS AND AGRICULTURE

        1. NIRA, 1933: NRA, PWA

            a. SCHECHTER v. US, 1935

        2. AAA, 1933

            a. US v. BUTLER, 1936

   D. RELIEF FOR THE IMPOVERISHED

        1. DIRECT RELIEF

        2. WORK RELIEF: CCC, PWA

V. THE SECOND NEW DEAL, 1935

   A. WPA

   B. NLRA (WAGNER ACT): NLRB

   C. SSA

VI. END OF THE DEPRESSION IN THE UNITED STATES

      YEAR        GNP GROWTH       UNEMPLOYMENT

       1939                     7.5%                       17.2%

       1940                     7.3%                       14.6%

       1941                    15.2%                        9.9%

   A. STIMULUS TO AGGREGATE DEMAND

         1. RAPID EXPANSION OF MONEY SUPPLY

         2. US DEFENSE BUILDUP

       3. ORDERS FROM ENGLAND

VII. GERMANY

   A. NS ECONOMIC GOALS

        1. REDUCE UNEMPLOYMENT

        2. AUTARKY

        3. MILITARIZATION

   B. FULL EMPLOYMENT BY 1937

        1. MASSIVE PUBLIC WORKS (MEFO-BILLS)

        2. CONSCRIPTION

        3. FIRE WOMEN

        4. EXPEL MARXISTS & JEWS