All Flashcards
Who was Charles Dawes?
An American banker who created the Dawes Plan to stabilize the German economy after WWI.
Who was John Maynard Keynes?
A British economist who developed Keynesianism, advocating for government intervention in the economy.
Who was JFK?
His economic policies in the US were influenced by Keynesian ideas.
What was the Treaty of Versailles?
A treaty that imposed heavy reparations on Germany after WWI, contributing to economic instability.
What was the Dawes Plan?
A US-engineered plan to stabilize the German economy by providing loans and restructuring reparations payments.
What was the US Stock Market Crash of 1929?
A sudden and devastating collapse of stock prices on Wall Street, triggering the Great Depression.
What was the Great Depression?
A severe worldwide economic downturn in the 1930s, marked by widespread unemployment and poverty.
What were Popular Front Policies?
A coalition of left-wing parties in France aimed to reduce poverty and promote equality through nationalization and social welfare programs.
What was the impact of WWI?
Great Britain, France, Russia, Belgium, and Germany suffered the most significant economic damage.
What was the effect of the US loans?
The United States provided loans to European allies during the war, expecting repayment afterward.
What was the effect of Germany printing money?
Germany's attempt to print money to cover debts led to hyperinflation, severely destabilizing their economy.
What was the effect of the Post-War Boom?
The US experienced an economic boom after WWI, with increased industrial production and a growing workforce.
What was the effect of the Stock Sell-Off?
When stock prices peaked, many began selling, causing a rapid drop in the market.
Define 'War of Attrition'.
A prolonged conflict where each side seeks to gradually wear down the other by a series of small-scale actions.
Define 'Reparations'.
Payments made by a defeated nation to compensate for war damages.
Define 'Hyperinflation'.
Extremely rapid or out-of-control inflation.
Define 'Buying on Margin'.
Purchasing stocks with a small down payment and borrowing the rest.
Define 'Margin Call'.
A demand by a broker that an investor deposit further cash or securities to cover possible losses.
Define 'Fiscal Policies'.
Government actions to influence the economy through taxation and spending.
Define 'Nationalization'.
Transferring ownership of a major industry or asset from private to state ownership.
Define 'Authoritarianism'.
A political system that concentrates power in a leader or a small elite that is not constitutionally responsible to the people.
Define 'Keynesianism'.
An economic theory advocating for government intervention to stabilize the economy.
Define 'Heterodox Economics'.
Economic schools of thought that are outside mainstream economics.