HIST 1115 Lecture Notes - Lecture 16: John Maynard Keynes, Herbert Hoover, Hooverville
10 Nov 2018
School
Department
Course
Professor
Document Summary
Beginnings in the us, 1929-1932 overproduction and reduced consumption stock market crash-loss of wealth bank failures consumption and investment dry up unemployment rises. America"s place in the global economy investment capital/loans/reparations one year moratorium, 1931 break for germany and france to pay off loans. Mid-1930s all loans get cancelled, germany and france refuse to pay them off. Us imposed worst/highest terror in its history. Hawley-smoot tariff, 1930 retaliatory tariffs once the us starts a tariff, all the other countries start putting tariffs, even. Britain eventually which once advocated for free trade trading blocs thus, global trade shrank by 10% at the same time that the world needed it during their economic crisis. Herbert hoover, 1928-1932 in charge of europe relief effort known for organizational skills promotes volunteerism ppl volunteering their time to help charity ie working in soup kitchens, donating, etc. Not making it mandatory to help out criticized for this tiny homes called hoovervilles derogatory term.
