The Great Depression + New Deal

Sick Economy (Early 1920s)

A period characterized by consumer and farmer debt, struggling key industries, and a significant drop in demand and prices following World War I.

Credit and Consumerism

A situation where many Americans lived beyond their means, often purchasing goods on credit and accruing debt.

Bull Market

A period when stock prices rise, leading many Americans to buy stocks and bonds.

Black Tuesday

October 29, 1929, when stock prices plummeted and many shareholders attempted to sell their stocks without buyers.

Post-Crash Effects

The aftermath of the stock market crash, with widespread bank withdrawals, job losses, and economic downturn.

World Shockwave

The global impact of America's economic collapse, causing other nations, particularly in Europe, to also fall into a depression.

Hawley-Smoot Tariff Act

A 1930 law that raised tariffs on imports, which ultimately hurt American manufacturers and farmers by cutting foreign trade.

New Deal

A series of programs and policies created by FDR to combat the Great Depression, focusing on relief for the unemployed and recovery of the economy.

Federal Deposit Insurance (FDIC)

A government agency that insures bank accounts to restore public confidence in the banking system.

Wagner Act (National Labor Relations Act)

A law that guaranteed workers the right to form unions and bargain collectively, protecting labor rights.

Social Security Act (1935)

A program that provided unemployment compensation and old-age insurance, funded by taxes from employees and employers.

Civilian Conservation Corps (CCC)

A public works program that employed young men in conservation projects to improve the environment.

Securities and Exchange Commission (SEC)

An agency that regulates the stock market and aims to prevent unfair trading practices.

Agricultural Adjustment Act (AAA)

A law that provided subsidies to farmers to reduce crop production in order to raise prices.

Tennessee Valley Authority (TVA)

A government agency that built dams and power plants to bring electricity and development to the Tennessee Valley.

Works Progress Administration (WPA)

A major New Deal program that provided jobs in public works projects, including construction and the arts.