if you dont like apah, thats banana oil! this class is really keen. lets study!
Post on 27-Mar-2015
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If you don’t like APAH, that’s banana oil!
This class is really keen. Let’s study!
Part 2 – Hoover
Hoover’s conservative philosophy
Opposed direct federal relief Favored rugged individualism Hoped to achieve business
prosperity – trickle down Voluntary cooperation RFC – Reconstruction Finance
Corporation Agricultural Marketing Act – Farm
Board Vetoed Muscle Shoals bill
Hoover (continued)
committed to balanced budget – wanted private charities and state and local governments to provide relief
natural business cycles prosperity “just around the
corner” Andrew Mellon’s tax policies
In Today’s Dollars - hyperlink
What cost $1000 in 1929 would cost $12,608.28 in 2010.
Also, if you were to buy exactly the same products in 2009 and 1929, they would cost you $1000 in 2010, but $80.58 in 1929.
Disparity of Wealth - Depression
Gross Income Levels % of Pop. Earning This
Over $10,000 2.9%
$7,500 – 9.999 3.1%
$5,000 – 7,499 7.4%
$4,000 – 4,999 7.2%
$3,000 – 3,999 12.2%
$2,000 – 2,999 25.7%
$1,000 – 1,999 25.6%
Under $1,000 15.9%
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