Study sets, textbooks, questions
Upgrade to remove ads
APUSH Vocab: The Jazz Age and the Great Depression
Terms in this set (61)
This is the time after WWI when business is booming since the economy got a huge boost out of war time production. Thus, there was a huge boom in industry and people began to extensively invest as well as open up businesses and expand corporations. Government policies were also in favor of the promotion of businesses during this era as well.
He was the 29th president and the first president of the roaring twenties. He was a Dark Horse candidate and was a Republican. His VP was Calvin Coolidge and his Secretary of State was Charles Evans Hughes. He was responsible for the Teapot Dome Scandal, part of the Washington Conference of 1921-1922 and the Fordney-McCumber Tariff of 1922. He made for the political and economic agenda of returning to Normalcy, which included political conservatism, deregulation of business/industry/finance and isolationism. There was also the Supreme Court axing of Progressive Reform including Adkins v. Children's Hospital, reversing the special protection of women in the workplace and minimum wage law for women won in Muller v. Oregon because they now had political rights and didn't require special protection. There were also tax reductions via Secretary of Treasury Mellon. Anti-trust laws were ignored, appointed Interstate Commerce Commission directors were sympathetic to railroad companies. Political scandal included that of taking advantage of the Veterans program and never actually giving them their federal money and he also had to do with the bureau by selling pardons and giving out liquor permits.
Cautious Cal nickname embodied his presidential style of hands off policies. "___ luck" - allowed businesses to make their own decisions.
Vetoed the Capper-Volstead Act, which would have prevented farmer's marketing cooperative from being broken up under anti-trust legislation.
He was a Republican and was the 31st president from 1929-1933. He was apart of the National Origins Immigration Act of 1929 and the panic and depression of the stock market crash of 1929 as well as the tariff raising Hawley-Smoot Tariff of 1930.
The food administration during WWI was his original job. He passed the Hawley Smoot Tariff. Millions were unemployed and many farms were foreclosed under his leadership. There was also a drought and overproduction with the Dust Bowl of the time. He invested in the Reconstruction Finance Corporation to give to big businesses so the money would trickle down but it didn't and made the problem worse. He also ran into problems with the Bonus Army and had to make MacArthur remove the remaining veterans from Washington.
This was a group of politicians and industry leaders closely surrounding Warren G. Harding, the 29th President of the United States of America. Many of these individuals came into Harding's personal orbit during his tenure as a state-level politician in Ohio, hence the name.
During the Harding administration, several members of the group became involved in financial scandals. These included the Teapot Dome scandal and apparent malfeasance at the U.S. Department of Justice, many of which ended in prison terms and suicides. Following Harding's sudden death of a heart attack in 1923, many members of the group were effectively removed from the corridors of power by Harding's Vice President and successor, Calvin Coolidge.
A plan that the economy would recover on its own and he believed in investing money in wealthy huge corporations and all of that money would trickle down to the middle and lower class ("economic pyramid" theory).
Plan of 1924 passed by Calvin Coolidge. Charles ___, an American banker, who would become Coolidge's VP, negotiated a compromise that was accepted by all sides in 1924. It established a cycle of payments flowing from the United States to Germany and from Germany to the Allies. U.S. banks would lend Germany huge sums to rebuild its economy and pay reparations to Britain and France. In turn, Britain and France would use the reparations money to pay their war debts to the United States. This cycle helped to ease financial problems on both sides of the Atlantic. After the stock market crash of 1929, U.S. bank loans stopped and the prosperity propped up by the plan collapsed.
Teapot Dome Scandal
Harding signed the order authorizing the transfer of valuable oil resources from the Navy to the Department of the Interior, which then leased the land to two prominent oilmen in exchange for bribes of 400,000 for Secretary Albert Fall.
___ in the United States refers to the policies of large, usually non-unionised, companies that have developed internal welfare systems for their employees. ________ first developed in the United States in the 1880s and gained prominence in the 1920s.
Promoted by business leaders during a period marked by widespread economic insecurity, social reform activism, and labor unrest, it was based on the idea that Americans should look not to the government or to labor unions but to the workplace benefits provided by private-sector employers for protection against the fluctuations of the market economy. Companies employed these types of welfare policies to encourage worker loyalty, productivity and dedication. Owners feared government intrusion in the Progressive Era, and labor uprisings from 1917 to 1919—including strikes against "benevolent" employers—showed the limits of paternalistic efforts.
In 1914, ____ had perfected a system for manufacturing automobiles by means of an assembly line. Instead of losing time moving around a factory as in the past, his workers remained at one place all day and performed the same simple operation over and over again at rapid speed. In the 1920s, most major industries adopted the assembly line and realized major gains in worker productivity. He was...
The development of the ____ by Henry Ford created an entire new industry and also allowed people to come from the suburbs into the cities. You guys should all know what this is. Changed the pattern of American life. By 1929, a total of 26.5 million of these things were registered and the enormous increase din sales meant that, by the end of the decade, there was an average of nearly one of these things per American family. The production of automobiles replaced the railroad industry as the key promoter of economic growth. Other industries -- steel, glass, rubber, gasoline, and highway construction - now depended on the sale of these things. In social terms, the thing affected all that Americans did including shopping, traveling for pleasure, commuting to work and even dating (that's what the book said). There were new problems including traffic jams, injuries and deaths on roads.
The area surrounding a city that become more popular with the development of better transportation including the development of complex infrastructure - you all should also really know what this is.
Two cool bros. were two American brothers, inventors, and aviation pioneers who were credited with inventing and building the world's first successful airplane and making the first controlled, powered and sustained heavier-than-air human flight, on December 17, 1903. From 1905 to 1907, the brothers developed their flying machine into the first practical fixed-wing aircraft. Although not the first to build and fly experimental aircraft, the Wright brothers were the first to invent aircraft controls that made fixed-wing powered flight possible. I KNOW YOU ALL KNOW WHO THEY ARE - GOOD FOR YOU!
The 1920s marked an increase in consumerism as people had more money as well as more credit to use and thus the ______ targeted society in order to make more profit.
Y'ALL KNOW THIS - The social and cultural features known as the _________ began in leading metropolitan centers, especially Chicago, New Orleans, Los Angeles, New York City, Philadelphia, Paris and London, then spread widely in the aftermath of World War I. The United States gained dominance in world finance. Thus when Germany could no longer afford war reparations to Britain, France and other Allies, the Americans came up with the Dawes Plan and Wall Street invested heavily in Germany, which repaid its reparations to nations that in turn used the dollars to pay off their war debts to Washington. By the middle of the decade, prosperity was widespread, with the second half of the decade later becoming known as the "Golden ________".
The spirit of the ________ was marked by a general feeling of discontinuity associated with modernity and a break with traditions. Everything seemed to be feasible through modern technology. New technologies, especially automobiles, moving pictures and radio proliferated "modernity" to a large part of the population. Formal decorative frills were shed in favor of practicality in both daily life and architecture. At the same time, jazz and dancing rose in popularity, in opposition to the mood of the specter of World War I. As such, the period is also often referred to as the Jazz Age.
A special fashion that set young people apart from older generations was the ____ look. Looking for independence, young women shocked their elders by wearing dresses hemmed at the knee instead of the ankle and bobbed their hair. They smoked and drove cars too (REVOLUTIONARY!)
Movies and Literature
Movies and literature were used to criticize as well as be used for propaganda from the U.S. government. It was used for advertising and became to be widely used as a technology since it was cutting-edge. The other thing was also very neat because it helped to spread the identity of the Harlem Renaissance as well as people who felt disillusioned by the war.
"The Jazz Singer"
This a 1927 American musical film. The first feature-length motion picture with synchronized dialogue sequences, its release heralded the commercial ascendance of the "talkies" and the decline of the silent film era. In 1998, the film was chosen in voting conducted by the American Film Institute as one of the best American films of all time, ranking at number ninety.
He was an American novelist, short-story writer, and playwright. In 1930, he became the first writer from the United States to receive the Nobel Prize in Literature, which was awarded "for his vigorous and graphic art of description and his ability to create, with wit and humor, new types of characters." His works are known for their insightful and critical views of American capitalism and materialism between the wars. He is also respected for his strong characterizations of modern working women.
He was an essayist, publisher, playwright, literary and social critic and "one of the twentieth century's major poets." He attracted widespread attention for his poem The Love Song of J. Alfred Prufrock (1915), which is seen as a masterpiece of the Modernist movement. It was followed by some of the best-known poems in the English language, including The Waste Land (1922), The Hollow Men (1925), Ash Wednesday (1930) and Four Quartets (1945). He is also known for his seven plays, particularly Murder in the Cathedral (1935). He was awarded the Nobel Prize in Literature in 1948, "for his outstanding, pioneer contribution to present-day poetry."
F Scott Fitzgerald
He was an American author of novels and short stories, whose works are the paradigmatic writings of the Jazz Age, a term he coined. He is widely regarded as one of the greatest American writers of the 20th century and is considered a member of the "Lost Generation" of the 1920s. He finished four novels: This Side of Paradise, The Beautiful and Damned, The Great Gatsby (his most famous), and Tender Is the Night. A fifth, unfinished novel, The Love of the Last Tycoon, was published posthumously. He also wrote many short stories that treat themes of youth and promise along with age and despair.
Part of the Lost Generation and was a prolific writer. an American author and journalist. His economical and understated style had a strong influence on 20th-century fiction, while his life of adventure and his public image influenced later generations. Hemingway produced most of his work between the mid-1920s and the mid-1950s, and won the Nobel Prize in Literature in 1954. He published seven novels, six short story collections, and two non-fiction works. Additional works, including three novels, four short story collections, and three non-fiction works, were published posthumously. Many of his works are considered classics of American literature. In 1959, he bought a house in Ketchum, Idaho, where he committed suicide in the summer of 1961.
He was an Irish American playwright and Nobel laureate in Literature. His poetically titled plays were among the first to introduce into American drama techniques of realism earlier associated with Russian playwright Anton Chekhov, Norwegian playwright Henrik Ibsen, and Swedish playwright August Strindberg. His plays were among the first to include speeches in American vernacular and involve characters on the fringes of society, where they struggle to maintain their hopes and aspirations, but ultimately slide into disillusionment and despair. Of his very few comedies, only one is well-known (Ah, Wilderness!). Nearly all of his other plays involve some degree of tragedy and personal pessimism.
She was an American writer of novels, poetry and plays that eschewed the narrative, linear, and temporal conventions of 19th-century literature, and a fervent collector of Modernist art.
This was the generation that came of age during World War I. The term was popularized by Ernest Hemingway, who used it as one of two contrasting epigraphs for his novel, The Sun Also Rises. In that volume Hemingway credits the phrase to Gertrude Stein, who was then his mentor and patron. This generation included distinguished artists such as F. Scott Fitzgerald, T. S. Eliot, John Dos Passos, Waldo Peirce, Isadora Duncan, Abraham Walkowitz, Alan Seeger, and Erich Maria Remarque.
By 1930, almost 20 percent of African Americans lived in the North, as migration from the South continued. In the North, African Americans still faced discrimination in housing and jobs, but for most, there was at least some improvement in their earnings and material standard of living. the largest African American community developed in the Harlem section of NYC. It became famous for its concentration of talented actors, artists, musicians, and writers. So promising was their artistic achievement that it was referred to as the _____.
United Negro Improvement Association
In 1916, this organization was brought to Harlem from Jamaica by Marcus Garvey. He advocated for individual and racial pride for African Americans and developed political ideas of black nationalism He established this organization for black separatism, economic self-sufficiency, and a back-to-Africa movement.
an American poet, social activist, novelist, playwright, and columnist. He was one of the earliest innovators of the then-new literary art form called jazz poetry. He is best known as a leader of the Harlem Renaissance. He famously wrote about the period that "the negro was in vogue" which was later paraphrased as "when Harlem was in vogue".
Tin Pan Alley
is the name given to the collection of New York City music publishers and songwriters who dominated the popular music of the United States in the late 19th century and early 20th century. The name originally referred to a specific place: West 28th Street between Fifth and Sixth Avenue in Manhattan, and a plaque (see below) on the sidewalk on 28th Street between Broadway and Sixth commemorates it. This block is now considered to be part of Manhattan's NoMad neighborhood and the Flower District.
The start of Tin Pan Alley is usually dated to about 1885, when a number of music publishers set up shop in the same district of Manhattan. The end of Tin Pan Alley is less clear cut. Some date it to the start of the Great Depression in the 1930s when the phonograph and radio supplanted sheet music as the driving force of American popular music, while others consider Tin Pan Alley to have continued into the 1950s when earlier styles of American popular music were upstaged by the rise of rock & roll.
The origins of the name "Tin Pan Alley" are unclear. The most popular account holds that it was originally a derogatory reference in the New York Herald referring to the sound made by many pianos all playing different tunes being exactly like the banging of many tin pans in an alleyway. With time, this nickname was popularly embraced and many years later it came to describe the U.S. music industry in general. According to Katherine Charlton, the "term Tin Pan Alley referred to the thin, tinny tone quality of cheap upright pianos used in music publisher's offices."
By extension, the term "Tin Pan Alley" is also used to describe any area within a major city with a high concentration of music publishers or musical instrument stores - an example being Denmark Street in London's West End. In the 1920s the street became known as "Britain's Tin Pan Alley" because of the large number of music shops, a title it still holds.
an African American poet who was a leading figure in the Harlem Renaissance. However, Cullen considered poetry raceless, although his poem "The Black Christ" took a racial theme, lynching of a black youth for a crime he did not commit.
Zora Neale Hurston
an American folklorist, anthropologist, and author. Of Hurston's four novels and more than 50 published short stories, plays, and essays, she is best known for her 1937 novel Their Eyes Were Watching God.
In addition to new editions of her work being published after a revival of interest in her in 1975, her manuscript Every Tongue Got to Confess (2001), a collection of folktales gathered in the 1920s, was published posthumously after being discovered in the Smithsonian archives.
a feature of the 1920s (ending with The Great Depression) when jazz music and dance became popular. This occurred particularly in the United States, but also in Britain, France and elsewhere. Jazz played a significant part in wider cultural changes during the period, and its influence on pop culture continued long afterwards. Jazz music originated mainly in New Orleans, and is/was a fusion of African and European music. The Jazz Age is often referred to in conjunction with the phenomenon referred to as the Roaring Twenties. The term "Jazz Age" was coined by F. Scott Fitzgerald.
He was an American jazz trumpeter and singer from New Orleans, Louisiana. Coming to prominence in the 1920s as an "inventive" trumpet and cornet player, he had an invaluable influence in jazz, shifting the focus of the music from collective improvisation to solo performance. With his instantly recognizable gravelly voice, he was also an influential singer, demonstrating great dexterity as an improviser. He was one of the first truly popular African-American entertainers to "cross over", whose skin color was secondary to his music in an America that was severely racially divided. He rarely publicly politicized his race, often to the dismay of fellow African-Americans, but took a well-publicized stand for desegregation during the Little Rock Crisis.
New Ku Klux Klan
Most extreme expression of nativism in the 1920s was the resurgence of this group. The new group founded in 1915 was as strong in the Midwest as in the South. Northern branches of the group directed their hostility against any other group and they used modern advertising techniques to grow to 5 million members and drew most of its support from lower-middle class white Protestants in small cities and towns.
Sacco and Vanzetti
Although liberal American artists and intellectuals were few in number, they were a vocal minority who protested against racist and nativist prejudices. They rallied to the support of two Italian immigrants, __ and ___, who in 1921 had been convicted in a MA court of committing robbery and murder. Liberals protested that the men were innocent and accused the government of convicting them because they were poor Italian immigrants who believed in anarchy. They were eventually executed in 1927 - not cool America, not cool.
Industrial Workers of the World
This is an international revolutionary industrial labor organization that was formed in 1905. It promotes the concept of "One Big Union," contending that all workers should be united as a social class and that capitalism and wage labor should be abolished. They are known for the Wobbly Shop model of workplace democracy, in which workers elect their managers and other forms of grassroots democracy (self-management) are implemented.
Emergency Quota Act (Immigration Act) of 1924
Set quotes of 2 percent based on the Census of 1890, the arrival before many of the new immigrants. The law chiefly restricted those groups considered undesirable by the nativists.
Fordney-McCumber Tariff of 1922
a law that raised American tariffs on many imported goods in order to protect factories and farms. Congress displayed a pro-business attitude in passing the tariff and in promoting foreign trade through providing huge loans to Europe, which in turn bought more American goods. The Roaring Twenties brought a period of sustained economic prosperity with an end to the Depression of 1920-21; the prosperity ended in late 1929, and the tariff was revised in 1930.
John Thomas Scopes
He was put on the Scopes Monkey Trial - he was a biology teacher that taught evolution.
Scopes Monkey Trial
A trial in Tennessee focused the debate between religious fundamentalists in the rural South and modernists of the northern cities. TN was one of several southern states that made it illegal to teach Darwin's theory of evolution in the public schools. To challenge the constitutionality of such laws, John Scopes, a biology teacher, taught evolution to his high school class and he was arrested and brought to trial in 1925.
an American lawyer and leading member of the American Civil Liberties Union. He was best known for defending teenage thrill killers Leopold and Loeb in their trial for murdering 14-year-old Robert "Bobby" Franks (1924). Some of his other big cases included defending Ossian Sweet, and John T. Scopes in the Scopes "Monkey" Trial (1925), in which he opposed William Jennings Bryan (statesman, noted orator, and three-time presidential candidate). Called a "sophisticated country lawyer", he remains notable for his wit, which marked him as one of the most famous American lawyers and civil libertarians.
William Jennings Bryan
a leading American politician from the 1890s until his death. He was a dominant force in the populist wing of the Democratic Party, standing three times as the Party's candidate for President of the United States (1896, 1900 and 1908). He served two terms as a member of the United States House of Representatives from Nebraska and was the United States Secretary of State under President Woodrow Wilson (1913-1915), resigning because of his pacifist position on the World War. Bryan was a devout Presbyterian, a strong advocate of popular democracy, and an enemy of the banks and their gold standard. He demanded "Free Silver" (because it reduce the power of the money power and put more money in the hands of the people at large). He was a peace advocate, a prohibitionist, and an opponent of Darwinism on religious and humanitarian grounds. With his deep, commanding voice and wide travels, he was one of the best known orators and lecturers of the era. Because of his faith in the wisdom of the common people, he was called "The Great Commoner."
In the intensely fought 1896 and 1900 elections, he was defeated by William McKinley but retained control of the Democratic Party. With over 500 speeches in 1896, Bryan invented the national stumping tour, in an era when other presidential candidates stayed home. In his three presidential bids, he promoted Free Silver in 1896, anti-imperialism in 1900, and trust-busting in 1908, calling on Democrats to fight the trusts (big corporations) and big banks, and embrace anti-elitist ideals of republicanism. President Wilson appointed him Secretary of State in 1913, but Wilson's strong demands on Germany after the Lusitania was torpedoed in 1915 caused Bryan to resign in protest. After 1920 he was a strong supporter of Prohibition and energetically attacked Darwinism and evolution, most famously at the Scopes Trial in 1925. Five days after the end of the case, he died in his sleep.
This act was enacted to carry out the intent of the Eighteenth Amendment, which established prohibition in the United States. The Anti-Saloon League's Wayne Wheeler conceived and drafted the bill, which was named for Andrew Volstead, Chairman of the House Judiciary Committee, who managed the legislation. NOT ABOUT FARMERS!
Another controversy that helped define the 1920s concerned people's conflicting attitudes toward the 18th amendment.
Wartime concerns to conserve grain and maintain a sober workforce moved Congress to pass this amendment, which strictly prohibited the manufacture and sale of alcoholic beverages, including liquors, wines, and beers. It was ratified in 1919.
It became fashionable to defy prohibition and go to clubs or bars known as speakeasies where bootleg liquor was sold. This encouraged _____ including Al Capon who controlled a lot of the bootleg trade.
This amendment repealed the Eighteenth Amendment to the Constitution, which had mandated nationwide prohibition on alcohol. It is unique among the 27 Amendments for being the only one to repeal a previous Amendment, and for being the only one to have been ratified by the method of the state ratifying convention.
Stock Market Crash
The ever-rising stock prices had become both a symbol and a source of wealth during the prosperous 1920s. A boom was in full force both in the US and in the world economy in the late 1920s. On the stock exchanged on Wall Street in NYC, stock prices had kept going up and up for 18 months. On September 3, the Dow Jones Industrial Average of major stocks had reached an all-time high of 381. On Black Thursday, there was an unprecedented volume of selling on Wall Street and stock prices plunged. A group of bankers then bought millions of dollars of stocks in an effort to stabilized prices. The selling frenzy resumed on Monday and on Black Tuesday, the bottom fell out as millions of panicky investors ordered their brokers to sell but there were no buys.
Reconstruction Finance Corporation
This federally funded government-owned corporation was created by Congress early in 1932 as a measure for propping up faltering railroads, banks, life insurance companies and other financial institutions. The president reasoned that emergency loans from the organization would help to stabilize these key businesses. The benefits would then trickle down to smaller businesses and ultimately bring recovery but it only helped the rich.
Hoover at last recommended that Congress used lots of money for useful public work. The most imposing of public enterprises was the creation of this on the Colorado River. The creation of this began in 1930 and ended in 1936. By the end of the construction, we had created a huge manmade lake for irrigation, flood control, and electric power.
This idea of you can pull yourself up by the boot straps and make a difference - sort of more populist message.
The Great Depression was something completely different from anything the people had dealt with. People were begging for food or "charity soup," and in extreme cases, the "rugged individualists" slept under "Hoover blankets" (newspapers). They lived in shantytowns cynically named "_________."
This was caused by bad irrigation methods and a drought in the midwest that caused an awful economic downturn for the farming industry.
Farmer's Holiday Association
This was a movement of Midwestern United States farmers who, during the Great Depression, endorsed the withholding of farm products from the market, in essence creating a farmers' holiday from work. The Farmers' Holiday Association was organized in May 1932 by Milo Reno. The group urged farmers to declare a "holiday" from farming, with a slogan of "Stay at Home-Buy Nothing-Sell Nothing" and "Lets call a Farmer's Holiday, a Holiday let's hold. We'll eat our wheat and ham and eggs, And let them eat their gold."
Farmers went to extreme measures to ensure that their wants were carried through. One person was killed when the farmers began to blockade roads, and other farmers rallied to destroy their crops, reducing supply, and raising prices. The highways into Sioux City and Council Bluffs, Iowa, were blocked by pickets who dumped farm produce on the side of the road.At Le Mars, Iowa some farmers dragged a judge out of his courtroom, placed a noose around his neck, and threatened to hang him unless he stopped approving farm foreclosures. The striking farmers were countered by sheriffs, militia, and vigilante groups.
Farmers' Holiday Association activity subsided by 1934.
Of 1930, the president signed into law a schedule of tariff rates that was the highest in history. The tariff passed by the Republican Congress set tax increases ranging from 31 to 49 percent on foreign imports. Its political purpose was to satisfy US business leaders who though a higher tariff would protect their markets from foreign competition. European countries enacted higher tariffs of their own against US goods. The effect was to reduct trade for all nations, meaning that both the national and international economies sank further into depression.
Bonus Expeditionary Force
In the summer of 1932, a thousand unemployed WWI veterans marched to Washington DC to demand immediate payment of the bonuses promised them as t later date in 1945. They were eventually joined by thousands of other veterans who brought their wives and children and camped in improvised shacks near the Capitol. Congress failed to pass the bonus bill they sought. Hoover ordered the army to break up the encampment. MacArthur used tanks and tear gas to destroy the shantytown and drive the veterans from Washington. - didn't make Hoover look good
Bonus Army controversy
Secretary of War Hurley twice sent orders to MacArthur indicating that the President, worried that the government reaction might look overly harsh, did not wish the Army to pursue the Bonus Marchers across the bridge into their main encampment on the other side of the Anacostia River. But MacArthur, according to his aide Dwight Eisenhower, "said he was too busy," did not want to be "bothered by people coming down and pretending to bring orders," and sent his men across the bridge anyway, after pausing several hours to allow as many people as possible to evacuate. A fire soon erupted in the camp. While it's not clear which side started the blaze, the sight of the great fire became the signature image of the greatest unrest our nation's capital has ever known.
refers to excess of supply over demand of products being offered to the market. This leads to lower prices and/or unsold goods along with the possibility of unemployment.
The demand side equivalent is underconsumption; some consider supply and demand two sides to the same coin - excess supply is only relative to a given demand, and insufficient demand is only relative to a given supply - and thus consider overproduction and underconsumption equivalent.
Overproduction is often attributed as due to previous overinvestment - creation of excess productive capacity, which must then either lie idle (or under capacity), which is unprofitable, or produce an excess supply.- the 20s market was saturated and people were getting poor as businesses were shutting down and firing people
This is a theory in economics that recessions and stagnation arise due to inadequate consumer demand relative to the amount produced. The theory formed the basis for the development of Keynesian economics and the theory of aggregate demand after the 1930s.
One of the early __________ theories says that because workers are paid a wage less than they produce, they cannot buy back as much as they produce. Thus, there will always be inadequate demand for the product. This, of course, ignores other sources of demand, to which we return below. People didn't have enough money to actually buy the products that were being produced just leading to more suffering during the Great Depression.
Buying on the margin
This was the act of buying stock on credit and assuming you were going to make profits from it. It was a major cause of the stock market crash, as people couldn't pay off the stocks they had bought.
how much you have to pay when you borrow money on credit
Sets found in the same folder
APUSH Vocab: Truman and the Beginning of the Cold…
APUSH Vocab: Eisenhower Years
APUSH Vocab: The Turbulent Sixties
APUSH Vocab: Nixon and Carter
Sets with similar terms
APUSH Henretta Ch. 22
apush vocab chapter 31
Other sets by this creator
IB 117 Midterm 1
MCB 132 Midterm 1
History Final Vocabulary
Church History Vocabulary
Other Quizlet sets
History 1302 Test #3
History Review 3
History Interim 2