| A | B |
|---|
| laissez faire capitalism | Lenient, as in the absence of government control over prices. |
| consumerism | large-scale buying, much of it on credit. |
| Buying on Margin | System of buying stocks in whihc a buyer pays a small percentage of the purchase price while the broker advances the rest. |
| fundamentalism | movemeent or attitude stressing strict and literal adherence to a set of basic principles. |
| nativism | Belief that native-born white Americans are superior to newcomers. |
| Bootleggers | One who sells illegal alcohol. |
| speculation | Practice of of making high-risk investments in hopes of obtaining large profits. |
| Business Cycle | Periodic growth and contraction of the economy. |
| Economic depression | sustained, long-term downturn in economic activity. |
| Rugged individualism | Herbert Hoover's idea during his time as president that each individual should be able to help themselves out, and that the government does not need to involve itself in people's economic lives nor in national economics in general. |
| New Deal | Programs and legislation encacted by Franklin Roosevelt during the Great Depression to promote economic recovery and social reform. |
| Social Security Act | 1935 law that set up a pension system for retirees, established unemployment insurance, and created insurance for victims of work-related acciteds. Provided aid for poverty stricken mothers and children, the blind, and disabled. |
| Pump Priming/Deficit Spending | Economic theory that favored public works projects because they put money into the hands of consumers who buy more goods, stimulating the economy. |
| Welfare State | Government that assumes responsibility for providing welfare of the poor, elderly, sick, and unemployed. |
