IB History Unit 2
About this set
Created by:
sarahgrace0706 on September 28, 2012
Subjects:
History, American History, IB History of the Americas
Description:
Mr. Monigan's IB History of the Americas. These are the ID terms.
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40 terms
Terms | Definitions |
|---|---|
 Panic | A general fear of a stock market crash that results in massive sales of stock, driving share prices quickly down. These were actually frequent in the last decade of the 19th century and the first decade of the 20th century, occurring every three to four years. The final panic before the major economic downturn in 1929 was in 1911. |
| Recession | Defined by economists as two or more consecutive quarters of negative growth. The (term) that began in 1929 turned into the Great Depression, which lasted a full decade, making it the longest and deepest economic downturn in the history of the United States. |
| Titans of Wall Street | JP Morgan and other economic giants who controlled a majority of the stock market in the 1920s. |
| Buying on Margin | A risky short-term strategy where a buyer borrows money from a broker to make an investment. The buyer believes the stock price will rise and is trying to maximize profits by investing more money in the stock. |
| The Crash of 1929 | The (term) (October 1929), also known as the Great Crash, and the Stock Market Crash of 1929, was the most devastating stock market crash in the history of the United States |
| Moral Hazard | The incentives created by certain policies that cause affected individuals or entities to engage in costly, undesirable, or counterproductive behaviors. |
| Black Cabinet | an informal network of black officeholders in the federal government; led by Mary McLeod Bethune, William Hastie, and Robert Weaver, they pushed for economic and political opportunities for African Americans in the 1930s and 1940s. |
| Great Migration | Movement of over 300,000 African American from the rural south into Northern cities between 1914 and 1920 |
| Survivalist Entrepreneurship | The pursuit of self-employment as a last economic resort |
| Woody Guthrie | Best known as an American singer-songwriter and folk musician, whose musical legacy includes hundreds of political, traditional and children's songs, ballads and improvised works. |
| New Deal | President Franklin Roosevelt's precursor of the modern welfare state (1933-1939); programs to combat economic depression enacted a number of social insurance measures and used government spending to stimulate the economy; increased power of the state and the state's intervention in U.S. social and economic life. |
| Price Fixing | An agreement among firms to charge one price for the same good. The intent of price fixing may be to push the price of a product as high as possible, leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices. The defining characteristic of price fixing is any agreement regarding price, whether expressed or implied. |
| Wagner Act | A 1935 American federal statute which recognized employee rights to collective bargaining, protected the right to belong to unions, prohibited many anti-union tactics then used by employers, and set up the National Labor Relations Board. |
| WPA (Works Progress Administration) | Reconstructed highways, there were sub groups. Such as the writers' project, artist project and "boondogging" |
| CCC (Civilian Conservation Corps) | A public work relief program for unemployed men age 18-24, providing unskilled manual labor related to the conservation and development of natural resources in rural areas of the United States from 1933 to 1942. |
| NRA (National Recovery Administration) | a New Deal agency in the United States. Created under the National Industrial Recovery Act in 1933, it was one of the first major pieces of the New Deal program of President Franklin D. Roosevelt. |
| Social Security Act | Established a system of old-age, unemployment, and survivors insurance funded by wage and payroll taxes. It did not include health insurance and did not originally cover many groups and individuals, especially the poor and minorities. |
| Orson Wells | An American filmmaker, actor, theatre director, screenwriter, and producer, who worked extensively in film, theatre, television and radio. He also announced the War of the Worlds radio broadcast. |
| Ralph Ellison | United States novelist who wrote about a young Black man and his struggles in American society (1914-1994) |
| Inflation | When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money - a loss of real value in the internal medium of exchange and unit of account in the economy. |
| American Federation of Labor | Association of skilled artisans, led by Samuel Gompers that focused on wages and job security issues. The labor organizing spread to mining towns and lumber camps. They wanted workers to own the means of production; a union for skilled laborers that fought for worker rights in a non-violent way. It provided skilled laborers with a union that was unified, large, and strong. It was the largest union grouping in the US for the first half of the 20th century. |
| Black Tuesday | October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929 |
| Hooverville | Shantytowns on the outskirts of cities in which unemployed people of the Depression lived. The nomenclature comes from the blame many Americans placed on Hoover for the Great depression. |
| Bonus Army | Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their goverment war bonuses in cash |
| Hawley-Smoot Tariff Act | A high protective tariff instituted by Hoover in 1930. Meant to protect American exports, it made other nations angry. They retaliated by instituting even higher tariffs on American goods. The depression ultimately deepened because of this. |
| Hundred Days | FDR spent this time with Congress, getting a multitude of laws passed to make the economy better. Gave people their confidence in the government back. |
| Huey Long | His "share the wealth" plan was aimed at providing at least 2500 dollars a year to average families. All accumulated wealth over 5 million and redistribute it. Wanted to give everyone a house, a car, etc. Favored social security. Thought FDR's New Deal wasn't radical enough. |
| Father Charles Coughlin | Used a radio show to get support from the public. Was a supporter originally, but later became a critic of the New Deal. He said that FDR was anti-God. |
| AAA (Agricultural Adjustment Act) | Instituted in 1933. The government paid farmers not to grow crops because there was surplus in the nation. This would drive prices higher and improve the economy. |
| TVA (Tennessee Valley Authority) | Used the Tennessee River to put up dams. It created electricity that was cheaper for the South. It helped 7 states - Tennessee, Mississippi, Kentucky, Alabama, Georgia, North Carolina and Virginia. Rerouted water, control flooding, and jobs. It sold electricity and was seen as socialism. Created many jobs. |
| Fireside Chat | A series of thirty evening radio speeches given by United States President Franklin D. Roosevelt between 1933 and 1944. |
| Eleanor Roosevelt | First Lady of the United States from 1933 to 1945. She supported the New Deal policies of her husband, Franklin Delano Roosevelt, and became an advocate for civil rights. |
| FDIC (Federal Deposit Insurance Corporation) | The federal agency that regulates most banks in the United States. The (term) insures most bank accounts for up to $100,000. It also has the power to take over banks that are in danger of collapsing. |
| New Deal Coalition | Army of people loyal to FDR. Included blacks, farmers, and workers. They elected him four times. |
| Bank Holiday | One week, all of the banks close. People were withdrawing all of their money from banks, so Roosevelt closed all banks to increase people's confidence in their government. |
| Dust Bowl | Midwest from Texas to the Dakotas. Due to single-crop farming accompanied by a severe drought. |
| The New Deal (again) | The programs and policies to promote economic recovery and social reform introduced during the 1930s by President Franklin D. Roosevelt |
| Roosevelt Dime | Instituted to honor President Roosevelt - The March of Dimes was also named for him to promote the health of mothers and babies. |
| Getúlio Vargas | Served as president and dictator of Brazil from 1930 to 1945 and from 1951 until his suicide in 1954. This person led Brazil for 18 years in total. |
| ISI - Import Substitution Industrialization | The creation of domestic "industry to provide products previously imported. ISI occured in Latin America mostly during the mid-1900s, encouraged by interruptions of international trade and by nationalist economic policies. It aimed to reduce a country's foreign dependency through local production of industrialized products |
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