The_Great_Depression.ppt__1_

The Great Depression

A severe worldwide economic downturn that lasted from 1929 to 1939.

Hoovervilles

Makeshift shantytowns set up by homeless people during the Great Depression.

Dustbowl

A period of severe dust storms causing major ecological and agricultural damage during the 1930s.

Oakies and Arkies

Terms used to describe displaced farmers from Oklahoma and Arkansas during the Great Depression who migrated to California.

Smoot-Hawley Tariff

An act that raised tariffs on imported goods, initially aimed at protecting American industry but contributed to global trade collapse.

New Deal

A series of programs and reforms introduced by President Franklin D. Roosevelt to recover from the Great Depression.

Fireside chats

Radio addresses by Franklin D. Roosevelt to communicate directly with the American public during the Great Depression.

SEC

Securities and Exchange Commission; a U.S. government agency created to regulate the securities markets and protect investors.

Glass-Steagall Act

A law enacted to separate commercial and investment banking, aimed at restoring public confidence in the banking system.

FDIC

Federal Deposit Insurance Corporation; an agency that insures deposits in banks to protect consumers.

Tennessee Valley Authority (TVA)

A federally owned corporation created to provide navigation, flood control, electricity generation, and economic development in the Tennessee Valley.

Civilian Conservation Corps

A public work relief program that employed young men to work on environmental conservation projects.

Works Progress Administration (WPA)

A New Deal agency that employed millions to carry out public works projects, including the construction of public buildings and roads.

Social Security Administration (SSA)

A U.S. government agency that administers social security, a program that provides financial assistance to retirees, the disabled, and survivors.

Concentration of wealth

The economic phenomenon where a significant portion of a nation's wealth is held by a small percentage of the population.

Speculation

Engaging in risky financial transactions in an attempt to profit from fluctuations in market prices.

Overproduction

Economic situation where more goods are produced than can be sold, leading to unsold products and economic downturn.

Economic boom of the 1920s

A period marked by rapid industrial growth, technological innovation, and increasing consumer spending in the U.S.

Buying on the margin

Purchasing stock by paying only a fraction of the total price and borrowing the rest, a practice that contributed to the stock market crash.

Tarrifs (Smoot-Hawley)

High tariffs on imported goods that led to retaliation by other countries, exacerbating global trade issues during the Great Depression.