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Glossary

Chapter 33: The Great Depression and the New Deal, 1933-1939

Boondoggling

engaging in trivial or useless work; any enterprise characterized by such work.

checks and balances

in American politics, the interlocking system of divided and counter-weighted authority among the executive, legislative, and judicial branches of government.

collective bargaining

bargaining between an employer and his or her organized work force over hours, wages, and other conditions of employment.

deficit spending

the spending of public funds beyond the amount of income.

direct relief payments

payments that government agencies make directly to the poor and unemployed.

Fascist

a political system or philosophy that advocates a mass-based party dictatorship, extreme nationalism, racism, and the glorification of war.

foreign exchange

the transfer of credits or accounts between the citizens or financial institutions of different nations.

Hoarding

secretly storing up quantities of goods or money.

Jurisdictional

concerning the proper sphere in which authority may be exercised.

left (left-wing)

in politics, groups or parties that traditionally advocate progress, social change, greater economic and social equality, and the welfare of the common worker.

Parity

equivalence in monetary value under different conditions; specifically, in the United States, the price for farm products that would give them the same purchasing power as in the period 1909-1914.

Run

a rush by depositors to withdraw their funds from a bank.


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