Shared Flashcard Set

Details

History Final
HIST 367
24
History
Undergraduate 1
04/29/2013

Additional History Flashcards

 


 

Cards

Term
Causes of Great Depression
Definition
1. over production, under consumption, unemployment, deflation
2. maldistribution of wealth
3. financial speculation
Term
Causes of economic cycle
Definition
1. post WWII demobilization
2. collapse of European markets
3. failure of voluntary production controls
4. deflation & unemployment
Term
collapse of Eurpoean markets
Definition
can't buy US goods, tobacco prices fall
Term
Federal Farm Board
Definition
Hoover, demand farmers to cut back production & gov't will buy surpluses
Term
Live-at - home campaign
Definition
Gardner, use left over land to grow own food
Term
maldistribution of wealth
Definition
limits consumption capacity of economy
Term
deflation & unemployment
Definition
lay off workers --> no money --> consumption falls --> prices fall --> consumers wait for prices to drop more
Term
financial speculation
Definition
leveraged investment
bank failures
Term
leveraged investment
Definition
borrowed money to invest and can't pay back
Term
Gardner's response
Definition
cut budget & supply side econ --> oppose handouts, manufacturers with supply jobs
Term
Erringhaus's response
Definition
cut budget & sales tax --> raising private property & personal income taxes will put burden on wealthy
Term
Principles of New Deal
Definition
1. activist federal government
2. economic security as right of citizenship
3. negative to positive rights, protected from to by
Term
Activist Fed Gov't
Definition
role to play in welfare of people & nation
Term
right to economic security
Definition
to job, home, medical care, education, assistance to old, injured, unemployed
Term
Relief Programs
Definition
Civilian Conservation corps, public works administration, works progress administration, treasury & arts program
Term
Civilian Conservation Corps
Definition
government works, parks & forests
Term
Works Progress Administration
Definition
construction & theatre projects
Term
Federal Writers project
Definition
under WPA, oral history of everyday Americans
Term
Gov't work:
Definition
preserves individual dignity because meaningful, preserves skills
Term
Recovery Programs
Definition
Agricultural Adjustment Act & National INdustrial Recovery Act
Term
Agricultural Adjustment Act --> Kerr Smith Tobacco Act
Definition
estimate what market would look like and assign production quotas, set base price, government buys up tobacco until it can sold at price

hurts smaller producers
Term
National Industrial Recovery Act
Definition
manufacturers, fed gov, workers
Term
Cotton Textile Board
Definition
production quotas, minimum prices, raise wages
Term
Section 7a
Definition
workers have right to unionize, but no enforcement
Supporting users have an ad free experience!