Great Depression Vocab Flashcards
Bank Hoilday
When FDR closed all banks until the government could investigate their financial condition; only strong banks were allowed to reopen.
Black Tuesday
October 29, 1929 - The day the Stock market crashed.
Dust Bowl
An area in the Midwest that suffered from drought during the Great Depression. The soil became so dry that it turned ti dust. Farmers could no longer grow crops as the land turned into a desert.
Fireside Chat
Radio speeches given by FDR where he would address issues and explain what was going on in the country. He used these speeches to encourage the American people during times of trouble.
New Deal
President Franklin Roosevelt’s economic policies that were implemented in hopes of pulling the US out of the Great Depression.
Pump Prime Economics
This theory states that it was the government’s responsibility to support the people, especially those in most need of help. This meant that plans would give governmental funding to projects that would give people jobs, food, and money at the bottom of society first. By saving the poor, the money would flow up to the rich.
Relief/Recovery/Reform
Known as the “Three R’s”, were introduced by President Frankiln D. Roosevelt during the Great Depression. FDR’s Three R’s - Relief, Recovery, and Reform - required either immediate, temporary or permanent actions and reforms and were know as FDR’s New Deal.
Rugged Individualism
The belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal.
Stock Market
A system for buying and selling stocks. A stock is a share ine the ownership of a company. Companies sell stocks to get the money they need to grow. People buy stocks as investments, or ways of possibly earing money.
Trickle Down Economics
This theroy states that it was better to help big business and other wealthy owners first. This in turn would lead to them creating more jobs, which would then help out the everyday folk. There should also be a focus on private volunteers and religious organizations for help during times of need. “Rugged Individualism.”
Unemployment
The condition of being without a job. The percentage of the workforce that is unemployment in a country is known as the unemployment rate. A higher unemployment rate means that more people are without jobs.
