Unit 4: Chapter 14

For Lenin and his followers, communism meant the following:
1. The government owned all land and property.
2. A single political party controlled the government.
3. The needs of the country always took priority over the rights of individuals.

After the war, many Americans wished to avoid political or economic alliances with foreign countries, a policy called isolationism.

Harding called for disarmament, a program in which the nations of the world would voluntarily give up their weapons.

Although only a temporary measure, the law included an important feature whose impact would long be felt: a quota, numerical limit, imposed on immigrants representing certain ethnic groups or nations.

The worst Harding scandal came to be known as the Teapot Dome scandal.

Under the Kellogg-Briand pact, 15 nations pledged not use the threat of war in their dealings with one another.

In fact, the 1920s saw the development of a consumer economy, one that depends on a large amount of spending by consumers—individuals who use, or consume, products.

In fact, the 1920s saw the development of a consumer economy, one that depends on a large amount of spending by consumers—individuals who use, or consume, products.

To increase their profits, manufacturers developed and financed buying on the installment plan. On an installment plan, the customer makes partial payments (installments) at set intervals over a period of time until the total debt is paid.

To achieve his goal he adapted the assembly line for his factories. An assembly line is a manufacturing process in which each worker does one specialized task in the construction of the final product.

This new approach to labor relations became known as welfare capitalism. Employers raised wages and provided such benefits as paid vacations, health plans, recreation programs, and English classes for recent immigrants, all in the interest of strengthening company loyalty and morale.

This new approach to labor relations became known as welfare capitalism. Employers raised wages and provided such benefits as paid vacations, health plans, recreation programs, and English classes for recent immigrants, all in the interest of strengthening company loyalty and morale.

The dizzying climb of stock prices encouraged widespread speculation, the practice of making high-risk investments in hopes of getting a huge return.