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11 Cards in this Set

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Deficit SPending
proposed by John Maynard Keynes and said that governments cut taxes and increase spending in order to stimulate investment and consumption. The effect increased the deficit because more money was spent than was taken in
Hoovervilles
The shanty towns that the unemployed built in the cities during the early years of the depression (Blamed Hoover)
Deflation
A reduction in available currency and credit that resulted in a decrease in the general prince level
Lost Generation
Term coined by Gerald Stein to describe American expatriate writers of the 1920s; Included T.S. Elliot, F.Scott fitzgerald, Ernest Hemingway, and Stein himself
Recession
Means a moderate and temporary decline in the economy
Roaring Twenties
popular image of the decade as a period of prosperity, optimism, and changing morals; flappers
Sick Chicken Case
where Schechter poultry v. U.S.,the Supreme Court struck down the National Industrial Recovery Act as unconstitutional. The decision encourage Roosevelt to consider ways to change the make-up of the court
Subsidy
A moderate and temporary decline in the economy
Welfare State
A Social System whereby the state assumes primary responsibiitly for economic and social well-being of its citizens
"Return to Normalcy"
Campaign theme of Warren Harding during the election of 1920; Reflected the conservative mood of the country after the constant appeals to idealism that characterizied both the Progressive Era and Wilson's fight over the League of Nations
"Share the Wealth"
program of Huey Long that proposed the redistribution of income of the rich to give every American a guaranteed annual income of $2,000 - $3,000, old age pensions, money for a college education, and veterans benefits