black tuesday
october 29 1929. the worst day of plunging stock market prices during the stock market crash that helped initiate the great depression.
stock market crash
in october 1929 the period of plunging stock market prices that helped initiate the great depression
bull market
a period in which stock prices are steadily increasing
broker
a person who buys and sells stocks for clients
buying on margin
buying stock by paying a percentage of a stocks price and borrowing the rest of the money from a broker. allowing one to make greater profits if the stock does well
bear market
a period in which stock prices are steadily decreasing
interest
the charge made by a bank for the use of money deposited in an account
bank runs
a financial crisis in which a large number of customer’s simultaneously attempt to withdraw their money from a bank out of fear that the bank will close
overproduction
a situation in which more foods are being produced than people can afford to buy
underconsumption
a situation in which people are purchasing fewer goods than the economy is producing
hawley smoot tariff act
a law passed by congress in 1930 to raise the tariffs on imported goods in order to protect us business and farmers
bonus army
a group of thousands of veterans who traveled to washington dc in 1932 to demand early payment of their retirement bonus to help them through the hard economic times
ideology
a set of basic beliefs ideas and values that from the basis of a social economic or political philosophy or program
conservative
someone who cherishes and seek to preserve traditional customs and values
status quo
the condition or states of affairs that currently exist
business cycle
in a capitalist economic system a recurring cycle of economic growth decline panic and recovery
liberal
someone committed to the expansion of liberty
public works
government funded constructions projects for public benefit
social welfare
government or private social services intended to aid disadvantaged groups
radical
someone who wants to make sweeping social political or economical changes in a society
hoovervilles
during the great depression a shantytown of makeshift dewellings
reconstruction finance corporation
a government agency created by congress jn 1932 to provide loans to banks railroads and big businesses and later also to farmers and public works projects
trickle down theory
an economic policy in which the government attempts to indirectly aid the needy by promoting economic growth at the business level in the hope that it will influence prosperity at all levels
new deal
president franklin d roosevelts domestic program from 1933-1939 which aimed to bring about immediate economic relief from the great depression
