US Regulation
Helped grow employment opportunities by pouring money into the economy
In the 1930s, what economic crisis led to the rise of Fordism and the New Deal?
Great Depression
What happened within Ford that created a monumental shift in the company?
What Act is promoting full employment, production, real income, balanced growth, and price stability?
US Employment Act of 1946
What is the main reason political-economic orders change over time?
A crisis
What two aspects of human capital led to increased productivity?
Rise in education levels and employment levels (due to increasing access to education and the governments determination for full employment)
What is Political-Economic Order?
“A political-economic movement that becomes so powerful and so dominant its key ideas rule American politics, both when the party and movement is in office and when it is out of office”
During business-cycle downturns in the New Deal Order, what economic theory helped smooth smaller economic busts in the 1950s-60s?
Keynesianism
Housing market (the government allowed banks to insure mortgages, making homeownership more appealing)
What type of policy did the time period of the New Deal Order like?
Fiscal Policy
In the 1920s, there were unpredictable financial strategies in practice, including buying stocks with borrowed money, which was one of several practices that led to the major crash. What was this technique called?
Buying on margin
What two concepts represent the following descriptions:
"Large quantity of goods made the same"
"The universal purchasing of goods by the general public"
Mass Production and Mass Consumption
What was the government's role to protect workers during the Fordism era?
Regulatory state
What are two major global or economic factors that caused the collapse of Fordism/New Deal Era?
Oil shocks and global competition
This time period saw a lot of economic stability but social inequality.
True. This is because the government wanted to center wealth around the wealthy as they thought that would allow the economy to see the greatest increases.