The Great Depression Flashcards
This economic term means a reduction of the general level of prices in an economy.
deflation
This was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the U.S.
The Great Depression
This term refers to when a large number of people start making withdrawals from banks because they fear the institutions will run out of money.
bank run
This is the set of theories by John Keynes that asserts the state and central bank should stimulate demand during times of recession, cutting back on intervention once the private sector is sufficiently recovered.
Keynesian Economic Theory
This is a policy approach which favors intervention by a government in its domestic economy or by one country.
interventionism
This was a famine in Soviet Ukraine from 1932 to 1933 that killed millions of Ukrainians.
The Holodomor
This is a form of far-right, authoritarian ultranationalism characterized by dictatorial power, forcible suppression of opposition, and strong regimentation of society and of the economy, which came to prominence in early 20th-century Europe.
fascism
This was a Georgian revolutionary and Soviet political leader who governed the Soviet Union from 1924 until his death in 1953. Despite initially governing the country as part of a collective leadership, he ultimately consolidated power to become the Soviet Union’s dictator by the 1930s.
Joseph Stalin
This was an Austrian-born German politician who was the dictator of Germany from 1933 until his death in 1945. He rose to power as the leader of the Nazi Party, becoming the chancellor in 1933 and then assuming the title of Führer und Reichskanzler in 1934.
Adolf Hitler
This was an Italian politician and journalist who founded and led the National Fascist Party. He was Prime Minister of Italy from the March on Rome in 1922 until his deposition in 1943, and “Duce” of Italian Fascism from 1919 until his death at the hands of Italian partisans in 1945.
Benito Mussolini
This is a form of government and a political system that prohibits all opposition parties, outlaw individual opposition to the state and its claims, and exercises a high degree of control and regulation over public and private life.
totalitarianism
This was Joseph Stalin’s campaign of political repression in the Soviet Union that occurred from 1936 to 1938. It involved large-scale repression of the peasantry; ethnic cleansing; purges of the Communist Party of the Soviet Union, government officials, and the Red Army; widespread police surveillance, suspicion of saboteurs and counter-revolutionaries, imprisonment, and arbitrary executions.
The Great Purge
This was a purge that took place in Nazi Germany from June 30 to July 2, 1934 which featured a series of political extrajudicial executions intended to consolidate Hitler’s power and alleviate the concerns of the German military about the role of Ernst Röhm and the Sturmabteilung (SA).
The Night of Long Knives
These were antisemitic and racist laws that were enacted in Nazi Germany on 15 September 1935 that, among other things, revoked citizenships from Jews, and later Romani and black peoples.
The Nuremberg Laws
This was the Soviet campaign of political repressions, including arrests, deportations, or executions of millions of kulaks (prosperous peasants) and their families in the 1929–1932 period of the first five-year plan.
dekulakization
The Great Depression began in what country?
United States
Along with deflation, what caused small and medium banks to close due to overspeculation?
stock market crash
A plan to alleviate the Great Depression in the U.S. through the creation of public jobs and pensions such as Social Security.
The New Deal
Which pro socialist country attempted to get out of the depression by raising its workers’ wages?
France
These were Mussolini’s paramilitary forces that helped secure his position as Italy’s totalitarian dictator.
Black Shirts
These were Hitler’s paramilitary forces that worked to maintain power and his racial agenda.
S.S. troops
In the 1920s an economic recession began in the U.S.
due to Overproduction and over speculation
After the Stock Market Crash, small and medium banks began to close leading to bank runs. What happened as a result of these bank runs? Why did this happen?
It initiated an American bank failure chain reaction due to a lack of funds.
What percentage of Americans were unemployed during the Great Depression by 1933?
About 25%
