7.4 Flashcards
Economy in the Interwar Period
Great Depression
Caused by agricultural overproduction and the stock market crash. All countries suffered in some way.
John Maynard Keynes
British economist who claimed the government should watch the economy and interfere to keep it from becoming too bad, including the use of deficit spending
deficit spending
spending more than the government can take in
Franklin Delano Roosevelt
The American president who made the New Deal
New Deal
Roosevelt’s plan to help the Great Depression. Plans for relief, recovery, and reform.
relief
part of the New Deal, for the suffering poor
recovery
part of the New Deal, bringing the nation out of the Depression
reform
part of the New Deal, changing government policies to prevent future Depressions
Russian Civil War
Russians and Ukrainians revolted against the post-WWI Russian government and poverty
New Economic Plan (NEP)
Vladamir Lenin’s temporary anti-communist financial plan to stop their economy from collapsing and stop the Russian Civil War. He re-introduced free trade and allowed for some economic liberties.
Politburo
The Russian Communist Party’s central organization
Five-Year Plan
Russian Joseph Stalin’s new economic plan to turn the USSR into an industrialized power. Included collectivized practices which he abused to force peasants to work land and meet certain quotas against harsh punishments such as gulags. Food was seized and sent to cities, and
Union of Soviet Socialist Republics (USSR or Soviet Union)
Russia and the USSR post-WWI
collectivize
a process by which farmland was taken from private owners and re-distributed to collectives to manage
kolkhoz
Russian collectives, or groups of peasants land was redistributed to
gulags
Russian labor camps
Institutional Revolutionary Party (PRI)
Dominant Mexican political party that improved Mexican economics and land distribution post-WWI
Lazaro Cardenas
PRI land reformer in Mexico post-WWI who nationalized Mexico’s foreign-owned oil industry into PEMEX, a very powerful state-owned oil company, to the anger of foreign investors
PEMEX
Petroleos Mexicanos, the state-owned oil industry in Mexico after Lazarco Cardenas nationalized foreign businesses into one.
fascism
far right political theory that appeals to extreme nationalism, glorifies militarism, and blames problems on minorities. Germany turned to this post-WWI
corporatism
sectors of the economy such as employees, trade unions, and state officials, are all part of the same economic organ. they can organize individually as long as they support the whole.
totalitarian state
a state in which the government controls all parts of society
Libya
Italian colony conquered post-WWI
Italian Somaliland
Italian colony now part of Somalia
Spanish Civil War
Spanish “Nationalists” led by Francisco Franco fought against the left-wing party of the Popular Front, also known as the “Republicans” or “Loyalists.” This war was mostly over the Popular Front’s land reforms which Catholics abhorred.
Spanish Republic
Spain after it stopped being a monarchy
Popular Front
A Spanish group of left-wing parties that ruled SPain’s republic and initiated land reforms.
Francisco Franco
leader of the conservative side of the Spanish Civil War, otherwise known as the “nationalists”
Nationalists
Conservative side of the Spanish Civil War led by Francisco Franco
Republicans/Loyalists
Left-wing side of the Spanish Civil War that backed the Popular Front
Guernica
Spanish town in the Basque Region bombed by the Germans and Italians in a an air-bombing massacre as they backed the conservative “Nationalists” of the Spanish Civil War
Basque Region
Area of Spain Guernica was in
Luftwaffe
Germany’s air force
hypernationalism
a belief in the superiority of one’s country and a promotion of national interests
inflation
money becoming worse less as more is pushed int a country’s economy
