TERM 1
Baby Boom
DEFINITION 1
Increase of the National birth rate by about 20% from WWII
to 1960. Led to an increase in consumer demand and
economic growth.
TERM 2
Keynesian Economics
DEFINITION 2
Developed by John Keynes in early 1920s where the
government would regulate monetary (taxes) and fiscal
(currency) policies without taking complete control of the
economy. Was popular and kept economy growing.
TERM 3
"Postwar Contract"
DEFINITION 3
Agreement between workers and businesses that they would
be given higher wages, better working conditions, vacation
time, and other benefits for giving up their power. Led to less
strikes but hurt labor unions.
TERM 4
AFL-CIO
DEFINITION 4
The merging of the "skilled" labor union, American Federation
of Labor (AFL), and the "craft" labor union, Congress of
Industrial Organizations (CIO). Conflicts at first from opposing
ideas but was able to survive.
TERM 5
Salk Vaccine
DEFINITION 5
Created by Jonas Salk in the fight against Polio. Given to the
public for free by federal government. Transformed into
sugar cubes (FINNICK!) to make it moreaccessible.
