1. Objective 9.01
Elaborate on the cycle of economic boom and bust in the 1920’s and 1930’s.

2. Return to Normalcy
Warren G. Harding, election campaign slogan, return to a more normal time after WWI

3. Laissez-faire
Government Hands Off, Government does not mess with the economy or business

4. Teapot Dome Scandal
Albert Fall, Scandal over oil found on government property

5. Albert Fall
Secretary of the Interior under Warren G. Harding, caught in the Teapot Dome Scandal

6. Speculation
Buying high risk stocks in order to gain quick profits

7. Buying on the Margin
Borrowing money to buy stock

8. Mechanization
Replacing people with machinery in factories

9. Black Tuesday
October 29th, 1929; Stock Market Falls signaling the beginning of the Great Depression

10. Hawley-Smoot Tariff
One of the highest Tariffs in American History, contributed to the Great Depression, caused Europe not to purchase American surplus goods, purpose was to encourage Americans to buy American made products

11. Rugged Individualism
Herbert Hoover’s approach to the Great Depression, volunteer cooperation, patience that the business cycle would turn around

12. Direct Relief
Direct cash payment from the government to the people