The Great Depression 1928-1933

History

An index that measures the stock performance of 30 large companies

Dow Jones Industrial Average

An index that measures the stock performance of 30 large companies. Dow Jones Industrial Average. The Dow Jones Industrial Average is a historic stock market index that tracks the performance of 30 significant U.S. companies, originally created in 1896.

A period of severe dust storms that greatly damaged the US prairies in the 1930s

Dust Bowl

A period of severe dust storms that greatly damaged the US prairies in the 1930s. Dust Bowl. The Dust Bowl was a devastating environmental disaster during the 1930s where strong winds and drought caused huge dust storms, ruining farms and forcing many families to move.

A law passed under President Hoover in order to lower the cost of home ownership

Federal Home Loan Bank Act

A law passed under President Hoover in order to lower the cost of home ownership. Federal Home Loan Bank Act. The Federal Home Loan Bank Act of 1932 established a system of banks to provide low-cost loans for homebuyers during the Great Depression.

A severe worldwide economic depression mostly during the 1930s

Great Depression

A severe worldwide economic depression mostly during the 1930s. Great Depression. The Great Depression was a time in the 1930s when many people around the world lost jobs and money, leading to widespread hardship.

A law that implemented protectionist trade policies in the United States

Hawley-Smoot Tariff Act

A law that implemented protectionist trade policies in the United States. Hawley-Smoot Tariff Act. The Hawley-Smoot Tariff Act was a 1930 law that raised U.S. tariffs on over 20,000 imported goods, worsening the Great Depression.

A concrete arch-gravity dam constructed between 1931 and 1936

Hoover Dam

A concrete arch-gravity dam constructed between 1931 and 1936. Hoover Dam. It is a massive dam built on the Colorado River to provide water and electricity to the southwestern United States.

A shanty town built during the Great Depression by the homeless in the US

Hooverville

A shanty town built during the Great Depression by the homeless in the US. Hooverville. Hoovervilles were makeshift communities named after President Hoover, where many destitute people lived during the economic downturn of the 1930s.

An ideology that supports local production, local government and local culture

Localism

An ideology that supports local production, local government, and local culture. Localism. In history, localism emphasizes the importance of communities controlling their own affairs and prioritizing local decision-making over centralized authority.

Very poor migrants from Oklahoma during the 1920s

Okies

Very poor migrants from Oklahoma during the 1920s. Okies. Okies were Dust Bowl migrants who moved from Oklahoma to California in the 1930s seeking better opportunities.

A subsidy or price control, with the intended effect of keeping the market price of a good higher

Price support

A subsidy or price control, with the intended effect of keeping the market price of a good higher. Price support. Historically, price support programs have been used to stabilize farmers' incomes by ensuring they receive a minimum price for their crops.

Provided financial support to state and local governments between 1932 and 1957

Reconstruction Finance Corporation

Provided financial support to state and local governments between 1932 and 1957. Reconstruction Finance Corporation. The Reconstruction Finance Corporation was a U.S. government agency that helped boost the economy during the Great Depression by lending money to banks, businesses, and local governments.

The process of returning an item or a person, to their place of origin

Repatriation

The process of returning an item or a person, to their place of origin. Repatriation. In history, repatriation refers to the return of people, such as prisoners of war or refugees, to their home country.

A settlement made of plywood, metal, plastic and cardboard boxes

Shantytown

A settlement made of plywood, metal, plastic, and cardboard boxes. Shantytown. Shantytown refers to an area where poor people live in makeshift homes, often seen during economic hardships like the Great Depression.

Where food is offered for free or at a below-market prices

Soup kitchen

Where food is offered for free or at below-market prices. Soup kitchen. A soup kitchen is a place where meals are provided to people in need, especially during economic hardships like the Great Depression.

The purchase of an asset with the hope that it will become more valuable in the near future

Speculation

The purchase of an asset with the hope that it will become more valuable in the near future. Speculation. In history, speculation refers to risky financial actions, like those leading to the 1929 stock market crash.

One who resides on land owned by a landlord

Tenant farmer

One who resides on land owned by a landlord tenant farmer. In history, a tenant farmer is someone who farms land rented from a landlord, often paying rent with a portion of their crops.

Taxes on the wealthy should be reduced to stimulate business investment

Trickle-down economics

Taxes on the wealthy should be reduced to stimulate business investment. Trickle-down economics. Trickle-down economics is the idea that benefits for the rich, like tax cuts, will eventually help everyone as the money trickles down through increased business investment and job creation.