AP®︎ World History: Topic 7.4 Flashcards

Global economic collapse beginning in 1929 that caused bank failures, falling trade and production, mass unemployment, and expanded government intervention

October 1929 collapse in U.S. stock prices that helped trigger, but did not solely cause, the Great Depression

Collapse of the German mark after the government printed money during the Ruhr crisis, destroying purchasing power and many middle-class savings

1924 arrangement that restructured German reparations and facilitated American loans, temporarily stabilizing Germany while preserving dependence on U.S. credit

System tying currencies to fixed amounts of gold, limiting monetary flexibility and encouraging deflationary policies during the depression

Use of tariffs and other trade barriers to protect domestic producers, provoking retaliation and further reducing global trade during the depression

Belief that markets should operate with limited government interference, an approach weakened by interwar economic crises

Economy based mainly on private property and markets but supplemented by government regulation, public enterprises, and welfare programs

Economy in which the state controls investment, production, prices, and distribution rather than relying primarily on markets

Soviet leader who ended the New Economic Policy and imposed Five-Year Plans, rapid industrialization, and forced collectivization

Soviet central plans beginning in 1928 that set production targets and concentrated resources on rapid heavy industrialization

Stalin’s forced consolidation of peasant farms into collective or state farms to control grain and support industrialization

People labeled prosperous peasant class enemies during collectivization and subjected to confiscation, deportation, imprisonment, or execution

Name commonly given to the catastrophic 1932–1933 famine in Soviet Ukraine, to which forced collectivization, grain seizures, production disruption, and punitive policies contributed

U.S. president whose early depression response emphasized limited public works, loans to institutions, and voluntary cooperation

U.S. president elected in 1932 who launched the New Deal and expanded federal responsibility for economic recovery and security

Roosevelt’s program of relief, recovery, and reform that expanded federal action while preserving democracy, private property, and capitalism

New Deal goals: immediate aid, renewed employment and production, and lasting changes intended to stabilize capitalism

New Deal agency that insured qualifying bank deposits to protect savings and restore confidence in banks

New Deal agency created to regulate securities markets and curb abuses associated with financial speculation

New Deal relief program that employed young men on conservation and natural-resource projects

New Deal agency that employed people on roads, public buildings, parks, arts, and other public projects

New Deal agency that built dams, generated electricity, controlled floods, and promoted regional development

New Deal agency that paid participating farmers to reduce production and raise prices, sometimes displacing tenants and sharecroppers

1935 New Deal law protecting labor unions, collective bargaining, and workers’ right to organize

New Deal law establishing old-age pensions and unemployment insurance, initially excluding many agricultural and domestic workers

British economist who argued that weak private demand could prolong unemployment and that government spending could stimulate recovery

Theory that governments can combat recessions through deficit spending and other policies that increase aggregate demand

Authoritarian system retaining private ownership while placing employers and workers under state-supervised bodies and suppressing independent unions

Italian Fascist dictator who imposed corporatism, suppressed independent unions, sponsored public works, and expanded state influence over industry

Mussolini’s campaign to increase Italy’s domestic grain production and reduce dependence on imported food

Nazi dictator whose regime reduced unemployment through public works, conscription, deficit spending, rearmament, and state direction of private industry

Nazi organization that replaced independent trade unions and placed German workers under state control

German plan announced in 1936 to prepare for war, expand strategic production, and reduce dependence on imports

Policy of pursuing national economic self-sufficiency by reducing reliance on foreign imports and resources

Brazilian leader who managed coffee, promoted industry and infrastructure, sponsored labor protections, and imposed authoritarian state supervision

Authoritarian Brazilian regime established by Vargas in 1937 that restricted political freedom while directing labor and economic development

Strategy of producing formerly imported goods domestically through tariffs, subsidies, state investment, or exchange controls

Mexican president from 1934 to 1940 who redistributed land, supported organized labor, and nationalized foreign-owned oil

Mexican communities holding land collectively while families generally cultivated assigned plots, expanded through Cárdenas’s land reform

Use of state policy to reduce foreign dependence and increase national control over industry, trade, land, or natural resources

Cárdenas’s nationalization of foreign-owned oil companies, asserting Mexican sovereignty over a strategic resource

Mexican state oil company placed in control of the industry nationalized by Cárdenas in 1938