Reasons for the Roosevelt Recession (1937-38):

1. Premature Fiscal Tightening:

⭐Reduced government spending: The Roosevelt administration, aiming to balance the budget and reduce the national debt, cut back on public works projects and relief programs.
⭐Increased taxes: The government raised taxes, further reducing consumer spending power.

2. Tightening Monetary Policy:

⭐Federal Reserve actions: The Federal Reserve raised interest rates and reduced the money supply, making it more difficult for businesses to borrow money and invest.

3. Decline in Investment:

⭐Business uncertainty: Businesses became hesitant to invest due to the uncertain economic climate and the prospect of higher taxes.
⭐Reduced consumer spending: The decline in consumer spending, fueled by job losses and lower wages, further discouraged investment.

4. Labor Disputes:

⭐Strikes and labor unrest: Strikes and labor unrest disrupted production and further damaged business confidence.

5. Weak International Demand:
⭐Global economic downturn: The global economy was still struggling to recover from the Great Depression, leading to weak demand for US exports.

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The Progressive Era in the United States (Roughly 1890-1920):

Key Characteristics:

⭐Social Reform: Aimed to address social problems like poverty, child labor, and unsafe working conditions.
⭐Political Reform: Focused on cleaning up corruption in government, increasing voter participation, and strengthening democracy.
⭐Economic Reform: Sought to regulate big business and protect consumers from unfair practices.
⭐Social Activism: Led by a variety of groups, including social workers, reformers, and journalists.

Key Movements and Issues:

⭐Muckraking Journalism: Exposed corruption and social ills.
⭐The Suffrage Movement: Fought for women's right to vote.
⭐The Labor Movement: Advocated for workers' rights, including better wages and working conditions.
⭐The Temperance Movement: Campaigned for the prohibition of alcohol.
⭐The Environmental Movement: Focused on conserving natural resources and protecting the environment.

Key Figures:

⭐Theodore Roosevelt: A leading Progressive President who championed the "Square Deal."
⭐Woodrow Wilson: Another Progressive President who championed the "New Freedom."
⭐Jane Addams: A social reformer who founded Hull House, a settlement house for the poor.
⭐Ida B. Wells: A journalist and activist who fought against lynching.
⭐Upton Sinclair: An author who wrote "The Jungle," a novel that exposed the horrors of the meatpacking industry.

Legacy:

The Progressive Era led to significant social, political, and economic reforms in the United States.
It left a lasting legacy on American society and government.

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7.3 The New Deal (1933-1939):

Key Goals:

⭐Relief: Provide immediate aid to those suffering from the Great Depression.
⭐Recovery: Stimulate the economy and bring about a return to prosperity.
⭐Reform: Make changes to the economic system to prevent another depression.

Key Programs:

⭐The Civilian Conservation Corps (CCC): Provided employment for young men on conservation projects.
⭐The Works Progress Administration (WPA): Funded construction projects and artistic endeavors, creating jobs and boosting the economy.
⭐The Social Security Act: Established a system of retirement benefits and unemployment insurance.
⭐The Agricultural Adjustment Act (AAA): Aimed to stabilize agricultural prices and incomes.
⭐The Tennessee Valley Authority (TVA): Developed the Tennessee River Valley, providing electricity and flood control.
⭐The National Labor Relations Act (Wagner Act): Guaranteed collective bargaining rights for workers.

Impact:

⭐Relief: The New Deal helped alleviate the immediate suffering of millions of Americans.
⭐Recovery: It played a significant role in stimulating the economy and ending the Great Depression.
⭐Reform: It established a foundation for a more robust social safety net and a more regulated economy.

Legacy:

The New Deal significantly expanded the role of the federal government in American society.
It left a lasting legacy on social welfare programs, labor rights, and economic regulation.

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These notes provide a concise overview of the topics mentioned. For a more detailed understanding, further research and reading are recommended.