depression2 Flashcards
Fundamentalism in Religion
Religious movement with the objective of returning to the foundations of the faith and to influence state policy where every word in the bible is interpreted literally
Welfare Capitalism
An approach to labor relations in which companies met some of their workers’ needs without prompting by unions, this prevented strikes and keep productivity high
Scopes Trial
Scopes was accused of violating Tennessee’s Butler Act, which had made it unlawful to teach human evolution
Quota Laws
1920s, laid the foundation for a system of controlled immigration. Gave a preference to immigrants to Northern and Western Europe
Black Tuesday
Selling frenzy days before the stock market crash and stocks were down. Investors willing to sell their shares for pennies
Gross National Product
Industrial output fell drastically
Teapot Dome Scandal
Interior Secretary, Albert Fall, leases government oil to oil men in return for $400k in bribes. Symbol of Harding Administration
Fireside Chats
The informal radio talks President Franklin Delano Roosevelt had with Americans during the Great Depression.
Social Security Act
A safety net; it ensured that once an individual reached the age of retirement, they would receive some sort of compensation.
Hawley-Smoot Tariff
This treaty raised tariffs on many imported goods. Many American trading partners retaliated in response to this tariff. The Hawley-Smoot Tariff might have even worsened the Great Depression.
New Deal
FDR’s program to end the Great Depression
Relief for needy- immediate action
Economic Recovery- “Pump-Priming”
Temporary programs to restart the flow of consumer demand
Financial Reform- Permanent programs to avoid another depression and insure citizens against economic disasters
Second New Deal
Providing economic security to Americans through the creation of Social Security and other welfare programs.
Wagner Act
guaranteed workers the right to unionize and bargain collectively. It also established the National Labor Relations Board, which organized factory elections by secret ballot to determine whether workers wanted a union.
