Unit 10

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Part 1

Vocabulary

  1. apparent- clearly visible or understood; obvious.
  2. ideology- a system of ideas and ideals, esp. one that forms the basis of economic or political theory and policy.
  3. fireside chat- one of a series of radio broadcasts made by President Franklin Delano Roosevelt to the nation, beginning in 1933.
  4. fundamental- forming a necessary base or core; of central importance.

Identify

  1. New Deal- the economic measures introduced by President Franklin D. Roosevelt in 1933 to counteract the effects of the Great Depression. It involved a massive public works program, complemented by the large-scale granting of loans, and succeeded in reducing unemployment by between 7 and 10 million.
  2. gold standard- the system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged. The gold standard was generally abandoned in the Depression of the 1930s.
  3. bank holiday- a day on which banks are officially closed, observed as a public holiday.
  4. Hundred Days- for specificity, marked the period between Emperor Napoleon I of France's return from exile on Elba to Paris on 20 March 1815 and the second restoration of King Louis XVIII on 8 July 1815 (a period of 111 days).
  5. Securities and Exchange Commission- is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States.
  6. Federal Deposit Insurance Corporation- is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank.
  7. Agricultural Adjustment Administration- restricted agricultural production in the New Deal era by paying farmers subsidies not to plant part of their land and to kill off excess livestock.
  8. Civilian Conservation Corps- was a public work relief program in the United States for unemployed, unmarried men, ages 18–25, between 1933-42.


Part 2

Vocabulary

  1. deficit spending- government spending, in excess of revenue, of funds raised by borrowing rather than from taxation.
  2. financed- the management of large amounts of money, esp. by governments or large companies.
  3. thereby- by that means; as a result of that.
  4. binding arbitration- a form of alternative dispute resolution (ADR), is a legal technique for the resolution of disputes outside the courts, where the parties to a dispute refer it to one or more persons (the "arbitrators", "arbiters" or "arbitral tribunal"), by whose decision (the "award") they agree to be bound.
  5. sit-down strike- is a form of civil disobedience in which an organized group of workers, usually employed at a factory or other centralized location, take possession of the workplace by "sitting down" at their stations, effectively preventing their employers from replacing them with strikebreakers or, in some cases, moving production to other locations.
  6. Social Security Act- The Social Security Act was drafted during Roosevelt's first term by the President's Committee on Economic Security, under Frances Perkins, and passed by Congress as part of the New Deal.
  7. crucial- decisive or critical, esp. in the success or failure of something.

Identify

  1. American Liberty League- was an American political organization formed in 1934 by conservative Democrats to oppose the New Deal of Franklin D. Roosevelt. It was active for just two years. Following the landslide re-election of Roosevelt in 1936, it sharply reduced its activities and disbanded in 1940.
  2. Works Progress Administration- was the largest and most ambitious New Deal agency, employing millions to carry out public works projects, including the construction of public buildings and roads, and operated large arts, drama, media, and literacy projects.
  3. National Labor Relations Board- is an independent agency of the United States government charged with conducting elections for labor union representation and with investigating and remedying unfair labor practices.


Part 3

Vocabulary

  1. demonstrate- clearly show the existence or truth of (something) by giving proof or evidence.
  2. enhance- intensify, increase, or further improve the quality, value, or extent of.
  3. mediate- intervene between people in a dispute in order to bring about an agreement or reconciliation.
  4. broker state-
  5. safety net- a net placed to catch an acrobat or similar performer in case of a fall.

Identify

  1. Frances Perkins- As U.S. secretary of labor 1933–45, she was the first woman to hold a federal cabinet post. She promoted the Social Security program and the minimum wage.
  2. court packing- was a legislative initiative proposed by U.S. President Franklin Roosevelt to add more justices to the U.S. Supreme Court.
  3. Henry Morgenthau- was a lawyer, businessman and United States ambassador, most famous as the American ambassador to the Ottoman Empire during the First World War.
  4. John Maynard Keynes- English economist. He laid the foundations of modern macroeconomics with The General Theory of Employment, Interest and Money (1936).