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15 Cards in this Set

  • Front
  • Back
Social Security Act
Legislation of 1935 that established a social welfare system funded by employee and worker contributions; included old-age pensions, survivor's benefits for victims of industrial accidents, and unemployment insurance.
Sought to bolsture the industrial prices and thus help businesses and individuals. It allowed trade associations in many industries to draw up codes to regulate wages, working conditions, production, and even prices. The act also set a minimum wage and gave organized labor collective bargaining rights.
Eleanor Roosevelt
First Lady 1933-1945; tireless worker for social causes, including women's rights and civil rights for African Americans and other groups.
GNP (Gross National Product)
Total amount of goods and services a nation produces; used to gauge economic strength.
Welfare Capitalism
Industrial policy of meeting workers' needs with increased pay and benefits for the purpose of preventing labor union organization.
Undertaking risk on stocks or real estate for the chance of profit.
Father Divine
African American minister; his Harlem soup kitchens fed the hungry during the Great Depression.
Buying on Margin
Practice of buying stocks by paying 10 to 50 percent of the full price and borrowing the rest; common in the 1920's before the stock market crash of 1929.
John Maynard Keynes
British economist who believed that government spending could help a faltering economy; his theories helped shape New Deal legislation.
Public Works Programs
Government-funded projects to build public facilities; central to President Fraklin Roosevelt's New Deal job programs.
Union of several groups who work together toward a common political, social, or economic goal.
Hawley-Smoot tariff
Import tax levied in 1930, the highest in United States history; produced the opposite of its intended effect when international trade slowed.
National Debt
Total debt of the federal government.
Tennessee Valley Authority (TVA)
Helped farmers and created jobs in one of the country's least modernized regions. By reactivating a hydroelectric power facility started during WWI, the TVA provided cheap electric power, flood control, and recreational opportunities to the entire Tennessee River valley.
Wagner Act
National Labor Relations Act of 1935; legalized union practices such as collective bargaining and the closed shop and outlawed certain antiunion practices such as blacklisting.