American History

  1. Depression
    characterized by severe recession, where over 10% are unemployed
  2. Recession
    2 quarters (6months) of continual derease in GDP
  3. Business Cycle
    it drops and rises during the wars...increases with war, decreases when they come home. Expansion (inflation-increasing GDP), (recession -decreasing GDP).
  4. The Great Depression
    • Factors:
    • Greed 
    • over speculation (run on the banks-No FDIC)
    • poor regulation (No Reserves)
    • too much government activity
  5. Inflation
    a sustained rise in the general price level; that is, all prices are rising together.
  6. GDP
    gross domestic product
  7. John Maynard Keynes
    Keynesian economics, interventionist,( government intervention supported, keep steady (on chart). Didn't want violen extremes in business cycle.
  8. F.A. Hayek
    Austrian economics "let the market make the decision." Yes, to unbalance (on chart). Laisez-Faire knowledge- leave the business cycle alone
  9. Milton Friedman
    Agreed with Hayek, Also  laisez faire knowledge
  10. Keynesian (interventionist) economics
    • Fiscal policy
    • taxes
    • spending 
    • monetary policy
  11. Laissez- faire econmics
    let them do
  12. FDR's New deal
    Help keep the peaks smaller, not too heavey of drops and rises. Introduced regulation, creates government agencies that regulate, Government spending (keynesian effort).
  13. Free markets
    maximization of resources
  14. Government solutions for inequality
    equality of pportnuity, wlefare, maximize wage, equal opportunity employer, financial aid and Affirmative Action (employment equality for women and other races).
  15. Economic mobility
    the likelihood that you will stay in the group that you are born in.
  16. Warren Buffett
    Billionare who will give away 90% of his wealth. Thinks rich should give back
  17. Relationship
    between the technology revolution and the Restoration of the gospel
    • did it during a time that technology was being revolutionized
    • (printing press, economic boom).
  18. Factors
    that made the techno revolution possible in the U.S.
    • Free market system, blessing on land, protection of private
    • property, faster communication and transportation. 
  19. Benefits/ risks of thechnology
    spread of the gospel
  20. Church’s
    view of technology
    Can be good for somethings but can be also become a distraction
  21. The Veldt
    Ray Bradburry story
  22. Isolationism vs. Interventionism (U.S. Presidents that have advocated each doctrine)
    • TheMonroe Doctrine(isolationism-Washington wanted this too)
    • Roosevelt corollary Interventionism
  23. U.S. foreign policy
    Our doctrine and our policy, how we deal with things. Military power, economic power, soft power. 
  24. Most
    powerful military nation in the world? Economic? 
    We do have the strongest military.
  25. Examples
    of Military power in foreign policy? Economic? Soft?- 
    Bush doctrine?
  26. Exceptionalism- 
    • - based on arrogance, thinking we are unique, we are
    • exceptional.
Card Set
American History
American 101