Great Depression

history IDs

Great Depression

A severe worldwide economic downturn that occurred during the 1930s, marked by high unemployment, deflation, and significant declines in industrial production and consumer spending.

Black Thursday

The day in October 1929 when stock prices collapsed, leading to the start of the Great Depression.

Black Tuesday

The day in 1929 when the stock market crashed, leading to the onset of the Great Depression.

Hawley Smoot Tariff

A tariff enacted in 1930 that raised duties on imports, aimed at protecting American industry but worsening the Great Depression by reducing international trade.

Bull Market

A period of rising stock prices

Bear Market

A period of declining stock prices, often indicative of economic downturns.

Speculation

is the practice of buying assets, such as stocks, with the expectation that their prices will rise, often leading to market volatility and contributing to economic bubbles.

Localism

is an economic approach that emphasizes local production and consumption to support local economies and reduce reliance on distant markets, often seen as a response to the Great Depression.

Rugged individualism

the belief in self reliance, personal independence

tenant farmers

a person who farms rented land

breadlines

lines of people waiting for food handouts from charities or public agencies

trickle down economics

economic theory that holds that money lent to banks and businesses will trickle down to consumers

hoover dam

damn on the Colorado river that was built during the great depression

business cycle

periodic growth and contraction of the economy