Chapter 1: American Economic Development (1900–1960)
Industrialization
Q: Which two systems were central to American industrialization in the early 20th century?
Q: What was the main goal of Taylorism?
Debate on Liberalism
Q: Which economic philosophy supports minimal government intervention?
Q: What was the main focus of Progressivism?
Presidents of the Progressive Era
Q: Which president is known for antitrust reforms during the Progressive Era?
Q: Woodrow Wilson focused on which area of reform?
Expansion of Federal Government
Q: What was the purpose of the Federal Reserve System established in 1913?
Q: What did the FDA, created in 1906, aim to do?
Presidents of the Roaring Twenties
Q: What economic approach was typical of the 1920s presidents?
Q: What event ended the prosperity of the Roaring Twenties?
The Great Depression
Q: What was one consequence of the 1929 crash?
Q: What were ‘Hoovervilles’?
The New Deal
Q: What were the three goals of the New Deal?
Q: Which act allowed temporary bank closures to restore confidence?
Post-War Institutions
Q: What was the purpose of Bretton Woods institutions?
Post-War Presidents
Q: What did the Marshall Plan support?
Cold War and the Economy
Q: What was the military-industrial complex?
Post-War Keynesianism
Q: What did Keynesian economics promote?