The Great Depression

Authoritarianism

The people must adhere to strict obedience to the authority of the state; limited freedoms

Capitalism

Trade and industry are controlled by private interests for profit rather than the state

Socialism

Means of production are owned /regulated by the community as a whole

Fascism

Authoritarian regime focusing on ultra- nationalism and dictatorial power

Private Financial Systems

Loans provided to corporations, banks, industries (railroads, farms) to stimulate economy and recapitalize

Lower Income Tax Rates

Increased disposable income fueling installment plans and speculation

Private Property

Tools of production monopolized by few

Anarchism

No state as it always place one class over another

Communism

No state/govt, class, or money; people are provided what they need by the community

Totalitarianism

The state exerts total power over its people

Neo-liberalism

Transfer control of economic factors from the public to the private

Brain Trust

Political and economic advisers and academics to the President

Keynesian Economics

Deficit spending

21st Amendment

Repealed the 18th amendment and ended Prohibition

New Deal

Relief, Recover, Reform

Good Neighbor Policy

Cooperation and trade in Latin America rather than military force

Philosophy

Social liberalism and social democracy

“Okies”

Over a million Oklahoma and Midwest farmers displaced by Dust Bowl

Mexican Repatriation

The government and media scapegoated Mexicans for the cause of the Depression

Bonus March

WWI veterans marched on D.C. demanding early payments of pensions

Hoovervilles

Displaced Americans set up shanty towns and tent cities

Reconstruction Finance Corporation (RFC)

Emergency loans from the federal government

Associationalism

Voluntary cooperative partnerships between businesses and government to provide for those in need

Hawley-Smoot Tariff

Intended to encourage domestic industrial consumption and protection for domestic agriculture

Monetary Policy

Pursued contractionary monetary policies to reduce speculation

Banking Panics

Unregulated banking investment and growth leading to foreclosures and bank runs