IB History HL Paper 3 Study Guide: The Great Depression in the Americas

A compilation of key terms and definitions related to The Great Depression in the Americas, focusing on economic and political responses.

Economic Boom of the 1920s

A period characterized by industrial strength, new industries, and consumer culture in the United States.

Laissez-faire economics

An economic philosophy of minimal government intervention in the economy.

Overproduction

The condition where companies produce more goods than can be sold, leading to economic crises.

Agricultural Problems

Challenges faced by the agricultural sector including low prices, mechanization, and international competition.

Smoot-Hawley Tariff

A U.S. tariff act passed in 1930 that raised duties on imports, exacerbating the Great Depression.

Unemployment Relief Act

A Canadian act providing financial assistance to provinces during the Great Depression.

Import Substitution Industrialization (ISI)

An economic policy aimed at reducing foreign dependency by promoting domestic industries.

Estado Novo

The authoritarian state established by Getúlio Vargas in Brazil during the late 1930s.

Corporatist structure

An economic structure where the state mediates between different sectors of society, reflecting interests of both workers and employers.

National Employment Commission

A Canadian commission, established during the Great Depression, focused on employment and labor issues.

Vargas Era

The period of leadership by Getúlio Vargas in Brazil from 1930 to 1945, marked by significant political and economic changes.

Comparative Analysis

Evaluating similarities and differences between countries' responses to the Great Depression.

Bank of Canada

Established in 1934 to regulate monetary policy and stabilize the Canadian economy.

Five-Year Plan

An economic plan initiated in Brazil focusing on industrial and infrastructure development.

Harlem Renaissance

A cultural movement in the 1920s where African American art and literature flourished.

On-to-Ottawa Trek

A protest movement in Canada during the Great Depression where workers marched to Ottawa for better relief conditions.