Untitled Flashcard Set

Speculation

The practice of buying assets, such as stocks, with the expectation that their prices will rise.

Buying on Margin

Purchasing stocks with borrowed money, allowing investors to buy more stock than they could with just their own capital.

Volunteerism

The concept that individuals and businesses should provide for themselves and help each other without government intervention.

Laissez Faire

An economic philosophy advocating minimal government involvement in the economy, as exemplified by Hoover's policies.

Dow Jones

An index that measures the stock performance of 30 prominent companies in the United States.

Hawley-Smoot Tariff Act

A tariff enacted in 1930 that raised duties on imports to protect American industries but ultimately worsened the Great Depression.

Economic Viewpoints of Hoover and FDR

Hoover favored a conservative, small government approach, while FDR supported a liberal, larger government perspective.

New Deal

A series of programs and reforms intended to stabilize the economy and provide relief during the Great Depression.

Alphabet Soup programs

A nickname for various New Deal programs characterized by their acronyms, aimed at economic recovery.

Medium of Communication for FDR

FDR commonly communicated with the American people through radio broadcasts called 'Fireside Chats.'