Franklin Delano Roosevelt32nd President

March 4, 1933 – April 12, 1945

1932 Elections

What is the mood of the people of the United States?

1932 Election Results

1933 Inauguration

“We have nothing to fear but fear itself”

John Maynard Keynes• British economist

• Worked with British government to address Depression in Great Britain

• Radical ideas regarding role of government in economy

Keynesian Economic Theory • A circular flow of money: when spending increases in an

economy, earnings also increase, which can lead to even more spending and earnings

• “Prime the pump”: Keynes argued that government should step in to increase spending, either by increasing the money supply or by actually buying things itself

• Against the practice of too much saving and not enough consumption, or spending, in an economy

“The Engine which drives Enterprise is not Thrift, but Profit” - JMK

Thrift leads to collapse of economy

Reading Activity

• Predatory Reading!– Read topic sentences and last sentence in

paragraphs– Search for key words

• Two Readings from 1932: – FDR Speech and JMK Article

Key Words

• Government

• Business

• Gold Standard

• Debt

“First 100 Days”What did he accomplish?

Eleanor Roosevelt