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The Great Depression of 1929–32 broke out at a time when the United Kingdom was still far from having recovered from the effects of the First World War. Economist Lee Ohanian showed that economic output fell by 25% between 1918 and 1921 and did not recover until the end of the Great Depression, [3] arguing that the United Kingdom suffered a twenty-year great depression beginning in 1918.
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 ...
Although the impact of the Great Depression on Great Britain was less severe than elsewhere, the industrial cities of the Midlands, the North, and Scotland were very hard-hit. [1] Liverpool and Manchester, with years of high unemployment, had already acquired a reputation as highly depressed areas.
A series of workplace disturbances, strikes, and riots broke out across the British West Indies in the period between 1934 and 1939. These began as the Great Depression wore on and ceased on the eve of World War II. The unrest served to highlight inequalities of wealth, led the British government to attempt a solution to the problem, and in ...
This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
The great depression of British agriculture occurred during the late nineteenth century and is usually dated from 1873 to 1896. [1] Contemporaneous with the global Long Depression, Britain's agricultural depression was caused by the dramatic fall in grain prices that followed the opening up of the American prairies to cultivation in the 1870s and the advent of cheap transportation with the ...
The National Government of August–October 1931, also known as the First National Government, was the first of a series of national governments formed during the Great Depression in the United Kingdom.
The lessons of the generation that weathered the Great Depression include self-sufficiency, frugality, and improvisation. See how to tap those notions today. 12 Things We Can Learn From the Great ...