Monday, October 26, 2015

Terms of the Day for October 26

  • The Great Depression – a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth and personal advancement which followed the Wall Street Crash of 1929 and eventually spread worldwide.
  • The New Deal – a  series of economic programs enacted in the United States between 1933 and 1936 in response to the Great Depression and focused on what historians call the "3 Rs": Relief, Recovery, and Reform. That is, Relief for the unemployed and poor; Recovery of the economy to normal levels; and Reform of the financial system to prevent a repeat depression.
  • Works Progress Administration (WPA) – the largest and most ambitious New Deal agency, employing millions of unskilled workers to carry out public works projects, including the construction of public buildings and roads.
  • Federal Art Programs (FAP) – was the visual arts arm of the Great Depression-era New Deal Works Progress Administration program in the United States.  It’s primary goals were to employ out-of-work artists and to provide art for non-federal government buildings: schools, hospitals, libraries, etc.

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