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Great Depression
| Term | Definition |
|---|---|
| Bank Holiday | When FDR closed all banks until the government could investigate their financial condition; only strong banks were allowed to reopen |
| Black Tuesday | October 29, 1929; the day the stock market crashed. |
| Dust Bowl | An area in the Midwest that suffered from drought during the Great Depression. The soil became so dry that it turned to dust. Farmers could no longer grow crops as the land turned into a desert. |
| Fireside Chats | Radio speeches given by FDR where he would address issues and explain what was going on in the country. He used these speeches to encourage the American people during times of trouble |
| New Deal | President Franklin Roosevelt's economic policies that were implemented in hopes of pulling the US out of the Great Depression. |
| pump prime economics | Theory that said it is government’s responsibility to support the people. Give governmental funding to projects that would give people jobs, food, money at the bottom of society first. By saving the poor, the money would flow up to the rich |
| Relief, Recovery, Reform | Known as the 'Three R's', were introduced by President FDR during the Great Depression. FDR's Three R's - Relief, Recovery and Reform - required either immediate, temporary or permanent actions and reforms and were known as FDR's New Deal. |
| Rugged Individualism | The belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal. |
| Trickle Down Economics | This theory states that it was better to help big business and other wealthy owners first. This would lead to them creating more jobs, which would then help out the everyday folk. |
| stock market | A system for buying and selling stocks. A stock is a share in the ownership of a company. Companies sell stocks to get the money they need to grow. People buy stocks as investments, or ways of possibly earning money. |
| unemployment | The condition of being without a job. The percentage of the workforce that is unemployed in a country is known as the unemployment rate. A higher unemployment rate means that more people are without jobs. |
| Hooverism | Terms used during the Great Depression to make fun of the perceived failures of President Herbert Hoover and his belief that the government should not directly help people in need. |
| Alphabet Agencies | The many New Deal programs created to help the country recover from the Great Depression. They were nicknamed “alphabet agencies” because most were known by their initials (like WPA or CCC). |
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