Bootleggers
illegal alcohol smugglers
Democrats
Political party who believe in social equality.
Republicans
Believe in low taxes and business freedom (Laissez Faire).
Laissez Faire
“To leave alone”. An economic philosophy. Republican belief that government shouldn’t interfere with business making money (taxes were low).
Hire purchase
Credit/debt arrangement based on “buy now, pay later”.
Mass production
Making consumer products in vast numbers.
Volstead act
Extra prohibition law which defined alcohol as 0.5>% (very low).
Prohibition
Banning of alcohol. Americans thought alcohol was a german concept.
Prohibition agents
Enforces of the prohibition law.
Stock market
Place where businesses are bought and sold.
Boom
E
conomic freedom for businesses to make money at a rapid rate.
Assembly line
Way of performing mass production.
Communism
Political, economic and social system involving state control of economy and less emphasis on individualism.
Bust
Follows a boom; economy overheats and then crashes.
Consumerism
Fueled by the advertising and mass production, american dream of modern conveniences.
Racial tensions
Race divisions in the US; causing anger and violence. Provoked by immigration to the US of POC.
Red scare
American fear of communism post 1917 (russian revolution).