1920s 1
unemployment + inflation = ?
recession
lessening of penalty
Clemency
began the great depression; day when stock prices plunged
Black Tuesday
Banks began to look like unreliable places to store money; Depositors lost confidence in banks, then pulled their money out
Banking Crisis
FDR's program of restoration
The New Deal
Why did people join labor unions in the 1920s?
Wages reduced, less concern over employee safety
Made the sale of alcohol illegal, used as a tool by traditionalists to “clean up cities”
Prohibition
DAILY DOUBLE: all at once, many people wanted to sell their shares but very few people wanted to buy: this resulted in what?
Stock prices plunged
Area where clouds of dust resulting from strong winds and a lack of rain were detrimental
The Dust Bowl
DAILY DOUBLE: Criticism to The New Deal
Liberals said it was NOT doing enough; Conservatives said the government was too involved
What was the Red Scare?
Post-war fear of communism.
People who embraced new styles, ideas, and social trends
Modernists
towns that homeless Americans in many cities built out of cardboard and tar paper
Hooverville
Between 1929 and 1933, this rose from 3% to 25%
Unemployment
Political Ideologies: self reliance, individual responsibility, and personal liberty; opposed large government change
Conservative
Public ownership of the means of production; Change should be brought about through a revolution by the working class
Communism
People who had deep respect for long-held cultural and religious values
Traditionalists
Which Market? Steady rise in stock prices
Bull Market
there are not enough consumers to buy all of the products
Overproduction/ underconsumption
Political Ideologies: Protecting individual liberty from government; favored limited government that left individuals free to exercise rights
Liberal
Public ownership of the means of production; Change should be brought about through peaceful reform
Socialism
the 1920s were a time of what?
economic prosperity
Which Market? Steady downturn in stock prices
Bear Market
FDR was able to appoint 7 new judges to the Supreme Court; wanted ability to appoint a new justice for every sitting justice that is over 70.
Court Packing Scheme
Political Ideologies: “Someone who wants to make sweeping social, political, or economic change;" includes socialists and communists during this era
Radical