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ENGLISH 2 (Golden age\THE ROARING TWENTIES\ Jazz age (SOCIAL CHANGES…
ENGLISH 2
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THE NEW DEAL
IN 1932 ROOSVELT BECAME PRESIDENT AND HE BELIEVED THAT THE GOVERNMENT HAD TO INTERVENE IN THAT SITUATION.
THE NEW DEAL CREATED EMPLOYMENT AND HELPED PEOPLE TO SURVIVE , BUT ECONOMY ONLY REALLY RECOVERED IN THE 1940s WEHEN WWII STIMULATED ECONOMIC GROWTH WITH THE WAR
MARCH 1933 THE CONGRESS PASSED A SERIES OF REFORMS TO RECOVER FROM THE CRISIS (THE NEW DEAL) IS POURPOSE WAS TO FIND SOLUTION THAT WAS ECONOMIC AND SOCIAL
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THE BEER AND WINE REVENUE ACT (THE BUYINBG AND SELLING OF ALCOHOL WAS REINTRODUCED WITH A TAX – IT WAS THE END OF PROHIBITION)
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ANOTHER IMPORTANT ACT WAS THE EMERGENCY BANKING ACT (BANKS WERE OBLIGED TO INSURE PEOPLE’S DEPOSIT AND CITIZENS DIDN’T RISK TO LOSE THEIR MONEY LIKE IN THE WALL STREET CRASH)
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ALSO A SERIES OF SOCIAL REFORMS WERE PASSED, IF COMPANIES DIDIN’T RESPECT THESE CONDITIONS THEY WERE BLACKLISTED AND PUNISHED
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THEY ALSO CONTRIBUTED TO THE IDEA OF WELFARE STATE DEFINITION: The welfare state is a form of government in which the state protects and promotes the economic and social well-being of the citizens. It is based on the principle of equal opportunities for all citizens
THE GREAT DEPRESSION
WHAT HAPPENED IN 1929
SHARES , STOCKS AND THE STOCK EXCHANGE STARTED TO RISE BUT ALSO TO FALL
ON OCTOBER 21 st MANY INVESTORS BEGAN TO SELL STOCKS AND SHARES BECAUSE THEIR VALUE WAS FALLING AND THEY DIDN’T WANT TO LOSE THEIR MONEY
ON OCTOBER 24 th (BLACK THURSDAY) EVERYONE WANTS TO SELL THEIR SHARES, SO THE PRICE OF THIS FELL DOWN
ON OCTOBER 29 th (BLACK TUESDAY) 16 MILLION SHARES WERE SOLD AND THE STOCK EXCHANGE COLLAPSED (WALL STREET CRASH)
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