1920s Presidential Politics & Economy Fast & Curious Vocab

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Supply-side economics

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Lower tax rates boost the economy by encouraging investment, leading to higher tax revenue.

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Cooperative Individualism

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Hoover’s policy encouraging manufacturers and distributors to form organizations and share info with the federal government to stimulate the economy.

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Isolationism

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A national policy of avoiding involvement in world affairs.

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Mass production

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Production of large quantities of goods using machinery and often an assembly line.

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Assembly line

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A production system with machines and workers where each person performs a specific task repeatedly as the item passes.

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Model T

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automobile by Ford Motor Co. (1908-1927)

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Disposable: money remaining after taxes

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referring to the money remaining to an individual after deduction of taxes

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Credit

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Placed at a person's disposal by a bank, to be repaid with interest.

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Laissez-faire

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Hands off gov’t; no gov’t intervention in business.

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Disarmament

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Reduction or withdrawal of military forces and weapons.