Economic

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Economic Systems
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Attempted by the founding fathers and encouraged
by robber barons such as John D. Rockefeller.
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Laissez Faire Capitalism
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Eugene V. Debs was the head of this party that
supported the government ownership of the major
industries and utilities.
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Socialism
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Type of economic system often used in times of
war when the government dictates production and
supply.
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Command
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FDRs New Deal Programs made the US this
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A welfare state
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FDR used this approach to solve the economic
problems of the Great Depression
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Pump Priming
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Used to describe monopolists like Rockefeller,
Carnegie and Morgan in a negative way.
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Robber barons
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Monopolists favored this type of tariff to aid in
their control of the US Economy
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High
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The federal government has jurisdiction over this
type of trade
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Interstate/International
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This was the first labor union
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Knights of LAbor
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Term that describes the benevolent giving of the
wealthy
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Philanthropy
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Believed that a national bank and the federal
assumption of state revolutionary debt was
essential to the growing nation
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Alexander Hamilton
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This President helped to pass the Federal Reserve
Act which created a 3 tier banking system
designed to stabilize the economy
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Woodrow Wilson
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This president believed in a Square Deal that
gave equal benefits to the owners, workers and
consumers
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Teddy Roosevelt
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These three republican presidents believed in
supply side economics in the 1920s
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Harding, Coolidge and Hoover
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This President worked to achieve the major
economic goal of the republicans since the
beginning of the 1980s federal tax cuts
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Ronald Reagan
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This type of unionism attempts to gain better
wages and working conditions for their members
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Bread ad Butter
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Allowed workers the right to collectively bargain
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The Fair Labor Relations Act/Wagner Connery Act
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Passed in 1911 to better regulate the monopolies
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Clayton Act
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Federal program established to protect American
savings.
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FDIC
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Federal program designed to protect American
investments in the stock market
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SEC
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Court case that revolved around the Pullman
strike said that the US government could place
an injunction on strikes
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In re Debs
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This crisis occurred during the Bush
administration as banks gave out risky loans.
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Savings and Loan Scandal
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The Federal Reserve System can regulate these to
prevent inflation
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Interest Rates
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To prevent high unemployment after WWII the US
government put this in place to prevent a
recession.
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GI Bill
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Court case that broke up a major railroad
conglomerate
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Northern Securities