Economic
Command Economy
Central government makes all economic decisions (Communist factor/trait)
Collective Bargaining
Process in which employers negotiate with labor unions about hours, wages, and other working conditions
New Deal: Relief, Recovery, Reform
Programs and legislation enacted by Franklin D. Roosevelt (FDR) during the Great Depression to promote economic recovery and social reform
Wagner Act (1935)
Established the legal right of most workers to join labor unions and to bargain collectively with their employers
Stock Market Crash (1929)
October 29, 1929 - billions of dollars lost and “kicked-off” the Great Depression (U.S. and worldwide)
Income Disparity
Uneven distribution of income ($) throughout a population
Overproductions
Supply exceeds (more) demand (what’s needed or wanted)
Agricultural Adjustment Act (1933)
Offered farmers money to produce less cotton in order to raise prices during the Great Depression
Works Progress Administration (1935-1943)
Employment and infrastructure program during the Great Depression (eight years) that provided over eight million jobs
Double V Campaign
Campaign to get African Americans to join the war effort (WWII) because it would be a double victory over racism abroad and at home
Inflation
Rising prices and fall in value of money
Rationing
Government-controlled limits on the amount of certain goods that civilians could buy during wartime
Civilian Conservation Corps (1933-1942)
Work relief program that provided millions of jobs to unemployed men on environmental projects during the Great Depression (national and state parks)
Court Packing Plan (1937)
Franklin D. Roosevelt’s (FDR) plan to add up to six new justices to the nine-member Supreme Court after the Court ruled that some New Deal legislation was unconstitutional
Great Migration
Movement of African Americans in the 20th century from the rural South to the industrial North
Keynesian Economics
Theory (John Maynard Keynes) that increased government spending and lower taxes stimulate demand (in order to pull the U.S. out of the Great Depression)
Fair Labor Standards Act (1938)
Established minimum wage ($), overtime pay ($), recordkeeping, and youth employment standards affecting employees in the private sector and in Federal, State, and local governments
Espionage and Sedition Acts (1918)
Passed by Congress and President Wilson, criminalized any “disloyal, profane, scurrilous, or abusive language about the U.S. government or military, or any speech intended to incite insubordination, disloyalty, mutiny, or refusal of duty.” Meant to bolster and not undermine the World War I effort
Pearl Harbor (1941)
American military based attacked by the Japanese on December 7, 1941
Federal Deposit Insurance Commission (1933)
Independent federal agency insuring deposits in U.S. banks and thrifts (savings and loans) in the event of bank failures
National Industrial Recovery Act (1933)
Authorized the President to regulate (monitor) industry for fair wages ($)and prices that would stimulate the economic recovery (Great Depression)
Immigration Act of 1924
Limited the number of immigrants allowed into the United States through national origins quotas; The quota provided immigration visas to two percent of the total number of people of each nationality in the United States as of the 1890 national census
Scopes Trial (1925)
1925 trial of a Tennessee school teacher for teaching Darwin’s theory of evolution