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The second and shorter part is on what Steiner refers to as the "hinge years" of 1929 to 1933 and focuses on the impact of the Great Depression in Europe, the failure of disarmament as a cornerstone of European security, and the surge of nationalism which upended the European international order.
The term "The Great Depression" is most frequently attributed to British economist Lionel Robbins, whose 1934 book The Great Depression is credited with formalizing the phrase, [230] though Hoover is widely credited with popularizing the term, [230] [231] informally referring to the downturn as a depression, with such uses as "Economic ...
The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1899, depending on the metrics used. [1] It was most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War.
Golden Fetters: The gold standard and the Great Depression, 1919–1939. 1992. Feinstein. Charles H. The European Economy between the Wars (1997) Garraty, John A. The Great Depression: An Inquiry into the causes, course, and Consequences of the Worldwide Depression of the Nineteen-Thirties, as Seen by Contemporaries and in Light of History (1986)
A bank run on the Fourth National Bank No. 20 Nassau Street, New York City, from Frank Leslie's Illustrated Newspaper, 4 October 1873. The Panic of 1873 was a financial crisis that triggered an economic depression in Europe and North America that lasted from 1873 to 1877 or 1879 in France and in Britain.
An important difference between the Great Depression in the Netherlands and the situation in most other affected countries was the role of the government. Until the late 1930s the Dutch government, headed from 1933 to 1939 by the Anti-Revolutionary statesman Hendrik Colijn , could be described as non-interventionist and strongly internationalist.
The gold bloc were seven countries led by France [1] that stuck to the gold standard monetary policy during the Great Depression, even though many other countries abandoned it. In addition to France, the gold bloc included Belgium, Luxembourg, the Netherlands, Italy, Poland, and Switzerland. [2]
The financial crisis of 1931 has long been identified as a major contributor to the global economic depression of the early 1930s. [18] In the early decades following the crisis, it was often described as a somewhat serendipitous crisis of confidence, in which the key mechanism was the withdrawal of short-term foreign deposits or " hot money ".