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Capitalism
Economic and social system based on the principle of individual rights and laissez-faire (free-market); allows private property; citizens can buy and sell whatever they want with limited government intervention; creates competition; prices determined by supply and demand. -
Communism
Economic and social system in which all (or nearly all) property and resources are collectively owned by a classless (completely equal) society; no private property; distribution of goods would be based upon the principle “From each according to his ability, to each according to his needs”; government has control over all business. -
Armistice
Formal agreement to stop fighting in order to negotiate a peace treaty (not necessarily the end of war). -
House Un-American Activities Committee (HUAC)
A committee of the U.S. House of Representatives to investigate alleged disloyalty and subversive activities on the part of private citizens, public employees, and those organizations suspected of having communist ties. Investigated communist influence in the movie world and the sneaking in of propaganda into films. -
Containment Policy
U.S. foreign policy of checking the expansion or influence of the Soviet Union and the spread of communism, as by the creation of strategic alliances or support of client states in areas of conflict or unrest. -
Cold War
The state of hostility, without actual warfare, that existed between the United States and the Soviet Union from the end of World War II until the collapse of the Soviet Union. -
Arms Race
A competition between nations to expand and develop their stock pile of weapons in order to gain a military superiority over other nations. -
38th Parallel
Line that divides North and South Korea. -
Truman Doctrine
President Truman's foreign policy of financially supporting Greece and Turkey to help them fight Soviet communist threats. -
Marshall Plan
U.S. gave over $13 billion ($140 in current dollar) in economic assistance to help rebuild Western Europe after WWII. -
Berlin Airlift
The supply of West Berlin in Germany by American and British planes during a Soviet blockade in 1948. -
North Atlantic Treaty Organization (NATO)
A defensive military alliance with the West European nations and the US. (opposite was Warsaw Pact) -
McCarthyism
Known as the Second Red Scare, the practice of making accusations of subversion or treason against those believed to be Communists without proper regard for evidence. -
Korean War
1950 to 1953 war between North Korea (with the support of China and the Soviet Union) and South Korea (with the support of the U.S.). -
Domino Theory
Idea that if one nation comes under Communist control, then neighboring nations will also come under Communist control. -
Space Race
20th century competition between the U.S. and U.S.S.R. for dominance in space flight capabilities. -
Sputnik
Created by Soviet Union, first satellite to orbit the Earth launched in 1957 causing the "space race" -
Iron Curtain
The "boundary" that divided Soviet-dominated Eastern Europe from Western European nations not under Soviet domination. -
Subversion
Secret attempt to overthrow or undermine a government or political system.
