Chapter 8 Flashcards
1
Q
Normalcy
A
returning to normal
2
Q
Ohio Gang
A
childhood friends of Warren G. Harding that were given high level positions
3
Q
Teapot Dome Scandal
A
- secretary of the interior Albert B. Fall
- allows private interests to lease land containing US Navy oil reserves
-Teapot Dome, WY and Elk Hill, CA - Harry Daugherty, Attorney General, bribed by General, bribed by German agent fro shares in a company seized after WW1
- wants immunity
4
Q
Forbes Scandel
A
sell medical supplies on side - cost $200 million
5
Q
Mass Production
A
large scale product manufacturing is usually done by machinery
6
Q
Assembly Line
A
divide operation into simple tasks so unskilled laborers could do work
7
Q
Kelly Act
A
1925: could fly mail through private contractors
8
Q
Air Commerce Act
A
federal aid to build airports
9
Q
Managerial Revolution
A
- companies create departments (sales, marketing, accounting, operations)
- mangers handle day to day operations to allow CEO’s to focus on long term goals
- increase size of middle class
10
Q
Welfare Capitalism
A
- companies allows workers to buy stock, participate in profit sharing, and receiving benefits like health care and pensions
- unions lose influence
11
Q
Open Shop
A
workers don’t need to join a union
12
Q
Supply-side Economics
A
- Created by Andrew Mellon
- cutting taxes so people have more money to now buy things
13
Q
Edward Armstrong
A
- inventor
- created FM radio (frequent)
14
Q
Guglielmo Marconi
A
- inventor
- invented radio
15
Q
Cooperative Individualism
A
- Promote economic stability in various industries
- have manufacture create their own trade organizations to share information w/ Federal gov.