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11 Cards in this Set
- Front
- Back
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Great Depression
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The Great Depression (also known as the Great Slump)[1] was a dramatic, worldwide economic downturn beginning in some countries as early as 1928.[2] The beginning of the Great Depression in the United States is associated with the stock market crash on October 29, 1929, known as Black Tuesday and the end is associated with the onset of the war economy of World War II, beginning around 1939.
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Stock Market Crash
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Many people had speculation in the market, would invest on borrowed money and eventually people couldn't pay their debt. Was the spark of the great depression
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Hoover
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President when Great Depression starts. To appease the Great Depression he uses voluntary actions and private charities.
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Reconstruction Finance Corp.
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Under Hoover. Gives out cheap business loans so that businesses will be less inclined to lay off workers, give cheaper pay etc.
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FDR
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Promises a new deal, active government response, improvisational, a good communicator
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Keynes
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A famous economist who believed the government should have a deficit spending.
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New Deal
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The policy name where the government takes a very active role, and attempts recovery, relief etc.
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Huey Long
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Left wing. Believed to distribute the wealth. Very socialist/communist
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Social Security Act
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Second term of FDR. Designed to protect the savings of those who were working
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Wagner Act
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Gave more power to labor union. Set up the National Labor Relations Board. Strengthened the labor movement (had unskilled laborers). Set up the CIO- Congress of Industrial Organizations
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CIO
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Was a federation of unions that organized workers in industrial unions in the United States and Canada from 1935 to 1955. The CIO was more aggressive and militant than the American Federation of Labor (AFL); its leaders were often younger and used more radical tactics. Eventually merged with the AFL in 1955.
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