The Roaring Twenties and the Great Depression

These flashcards cover key concepts and events discussed in the lecture notes about the Roaring Twenties and the Great Depression.

Post-War Recession

The period of economic downturn in the United States following World War I, occurring around 1919-1920.

Mass Production

The manufacturing process that allowed for the rapid production of goods, significantly impacting the economy of the 1920s.

Automobile Boom

A significant increase in automobile production and use that drove economic growth and related industries in the 1920s.

Gospel of Standardization

The concept introduced by Henry Ford that emphasized uniformity in production processes to increase efficiency.

Installment Plan

A financing method that made products like automobiles more accessible by allowing consumers to pay in installments.

Prohibition

The nationwide ban on the production, importation, and sale of alcoholic beverages in the United States from 1920 to 1933.

Speakeasy

Illicit bars that operated during Prohibition where alcoholic beverages were served.

Bootlegging

The illegal production and distribution of alcohol during Prohibition.

Golden Age of Gangsterism

A term referring to the rise of organized crime and gangsters thriving on illegal activities during Prohibition.

Stock Market Crash

The dramatic decline of stock prices that began in late October 1929, marking the start of the Great Depression.

Great Glut

The term referring to the overproduction of goods that contributed to the economic downturn during the Great Depression.

Hoovervilles

Shantytowns built by the homeless in the United States during the Great Depression, named after President Herbert Hoover.

New Deal

A series of programs and reforms proposed by Franklin D. Roosevelt in response to the Great Depression.

Three Rs

The three main goals of the New Deal: Relief, Recovery, and Reform.

Federal Deposit Insurance Corporation (FDIC)

An agency created to protect depositors by insuring bank deposits and preventing bank runs.

Social Security Act of 1935

A law that established a system of old-age benefits and unemployment insurance.

Dust Bowl

A period during the 1930s characterized by severe drought and soil erosion that greatly affected the agricultural sector in the Great Plains.

Works Progress Administration (WPA)

A New Deal program that provided jobs for millions in various public works projects during the Great Depression.

Civilian Conservation Corps (CCC)

A New Deal program that employed young men in conservation and infrastructure projects.

Wagner Act (National Labor Relations Act)

Legislation that protected the rights of workers and allowed for collective bargaining.

Teapot Dome Scandal

A bribery scandal involving land leases for oil reserves during Warren Harding's presidency.