The Roaring Twenties and the Great Depression

These flashcards cover key vocabulary and concepts from the lecture about the economic changes in the United States during the 1920s and the Great Depression.

Roaring Twenties

A nickname for the 1920s in the United States, characterized by economic prosperity and cultural change.

Credit

An arrangement to receive goods or services now and pay for them later, often leading to consumer debt.

Herbert Hoover

31st President of the United States, known for his role during the onset of the Great Depression.

Stock Market Crash of 1929

A major stock market collapse that marked the beginning of the Great Depression.

Great Depression

A severe worldwide economic downturn that took place during the 1930s.

Social Darwinism

A belief that the strongest individuals or groups will survive in society, often used to justify economic inequalities.

Laissez-faire capitalism

An economic theory that advocates minimal government intervention in business.

Hoovervilles

Makeshift shantytowns created by homeless people during the Great Depression, named after president Herbert Hoover.

Dust Bowl

A period of severe dust storms that greatly damaged the ecology and agriculture of the American prairies during the 1930s.

New Deal

A series of programs and reforms introduced by Franklin D. Roosevelt to aid recovery during the Great Depression.

Fireside Chats

Radio broadcasts made by FDR to communicate directly with the American people.

FDIC (Federal Deposit Insurance Corporation)

A government agency that insures deposits at banks to protect depositors' money.

Social Security Act

Legislation that created a social insurance program to provide benefits to the elderly, disabled, and unemployed.

Minimum Wage

The lowest legal wage that can be paid to workers, established to protect employees' earnings.

American Liberty League

An organization formed by business leaders in opposition to the New Deal, advocating for laissez-faire economics.

Polio

A viral disease that can cause paralysis, which Franklin D. Roosevelt suffered from before becoming President.