Capitalism

Capitalism

An economic system where trade industries, and means of production are largely privately owned and operate for profit with minimal government intervention.

Laissez-faire

A policy of minimal government intervention in economic affairs, allowing businesses to operate freely.

Free market

An economy where prices and wages are determined by competition not government control

Stock exchange

A marketplace where shares are bought and sold

Shares

Portions of ownership in a company traded on the stock exchange.

Jim Crow laws

Laws enforcing racial segregation in the South of USA

Prohibition

1920s ban on the sale, production and transportation of alcohol in the USA

Ku Klux Klan

A racist organization promoting "racial purity" through violence and intimidation.

Republican

Business focused

Democrats

Humanitarian focused

Laissez - Faire policy

Led to rapid industrial expansion in sectors like motor cars, consumer goods, communication and entertainment.

1. American Dream

The belief that anyone could achieve success hard work and entrepreneurship.

Overproduction

Increased production, especial in agriculture led to surpluses, driving down prices.

Agriculture

Post WW1 demand for agriculture products fell, leading to unemployment among farmers and laborers. By 1920s nearly 6 million people left rural areas.

Women's role in the 20s

The 1920s saw women gain voting rights in 1920s and adapt new behaviors

Prohibition 2

Prohibition led to illegal bootlegging an organized crime increasing violent crime

Uneven Wealth Distribution

High profits for businesses contrasted with low wages, reducing workers' purchasing power

Monopolies

Large corporations like US Steel dominated industries, exploiting labour and fixing high prices

The wall street crash of 1929

A sudden and dramatic decline in stock price on the New York Exchange in 1929 October 21, when stock prices crashed dramatically marking the start of the Great Depression.

Destitute

Lacking basic necessities like food or shelter