The Great Depression and the 1930s

Stock Market Crash (Oct. 29, 1929)

Problems with the Economy

• Stock Market fell 80%

• Industrial output fell to 50%

• Unemployment at 25%

• National income fell more than 50%

• Agricultural income fell more than 50% – And this from an already depressed state

Hoover’s Policies

• Reconstruction Finance Corporation

• Agricultural Marketing Act

THE NEW DEAL

1933-1945

Franklin Delano Roosevelt

3Rs

• Relief, Recovery, Reform

• 1933-35 – Relief/Recovery

• 1935-36 – Recovery/Reform

• Trial-and-error/Pragmatism

• “Priming the Pump”

• Work Fare

THE DUST BOWL

The Dust Bowl (1931-1939)

Dust Bowl Migration

Okie Migration

BAKERSFIELD SOUND

Merle Haggard

Buck Owens

Dwight Yoakum