Great Depression and New Deal Flashcards

Vocabulary flashcards based on lecture notes about the Great Depression and FDR's New Deal.

Great Depression

A severe economic downturn in the 1930s marked by poverty and high unemployment.

New Deal

Series of programs and reforms enacted in the United States between 1933 and 1939 with the goal of ending the Great Depression.

Sick Industries

Industries that were struggling due to changing economic conditions.

Overexpansion of Credit

Borrowing more money than one can reasonably pay back, leading to debt and financial instability.

Unbalanced Economy

An economic state where there is too much production of goods and not enough consumption by buyers.

Weak Labor Unions

Labor organizations with limited power to negotiate better wages and working conditions for their members.

Poor Government Policies

Government actions or inactions that contributed to the severity of the Great Depression.

High Tariffs

Taxes on imported goods, often used to protect domestic industries.

Herbert Hoover

The 31st President of the United States (1929-1933) during the start of the Great Depression.

Stock Market Crash 1929

A sudden and significant drop in stock prices across a broad section of the stock market, leading to major financial losses.

Franklin D. Roosevelt (FDR)

The 32nd President of the United States, elected in 1932, who implemented the New Deal programs.

Dust Bowl

A period of severe dust storms and soil erosion in the Midwest during the 1930s due to poor farming practices.

3 R's

The three primary goals if FDR's New Deal: Relief, Recovery and Reform

Bank Holiday

A temporary shutdown of banks to stabilize the banking system.

Agricultural Adjustment Act (AAA)

A law enacted during the Great Depression to improve agricultural prices by limiting overproduction.

National Recovery Act (NRA)

A law enacted during the Great Depression to eliminate unfair competition and establish codes of fair practices.

Work Relief

Government funded jobs and initiatives to employ people during the Great Depression.

Social Security

A federal program that provides income for the elderly, unemployment compensation, and aid to families with dependent children and the disabled.