Search results
Results From The WOW.Com Content Network
Differences explicitly pointed out between the recession and the Great Depression include the facts that over the 79 years between 1929 and 2008, great changes occurred in economic philosophy and policy, [9] the stock market had not fallen as far as it did in 1932 or 1982, the 10-year price-to-earnings ratio of stocks was not as low as in the ...
The Philippines also became the distribution center of silver mined in the Americas, which was in high demand in Asia, during the period. [20] In exchange for this silver, the Philippines very much functioned like a trade entrepot between the nations of South, East and Southeast Asia and the territories in Spanish North and South Americas ...
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 external debt of the Philippines rose more than 70-fold from $360 million in 1962 to US$2.3 billion in 1970 to US$17.2 billion in 1980 to $26.2 billion in 1985, [21] leaving the Philippines one of Asia's most indebted nations. [8] At the end of 1979, the ratio of debt to GDP was about the same as South Korea. [11]
[246] Rothbard criticized Friedman's conclusion that the Great Depression happened as a result of a deflationary spiral, arguing that this is inconsistent with the data, even though during the period described by Friedman as "The Great Contraction", the money supply did in fact decrease year-over-year by over 10 percentage points. [247]
English: The Great Depression in an international perspective. Triangles mark points at which nations suspended gold convertibility and/or devalued their currency against gold. For full explanation and sources see prout The Great Depression in Facts and Figures.
On October 11, 1945, the Philippines became one of the founding members of the United Nations. [134] [135] On July 4, 1946, the Philippines was officially recognized by the United States as an independent nation through the Treaty of Manila between the governments of the United States and the Philippine islands, during the presidency of Manuel ...
According to World Bank data, the Philippines' gross domestic product (GDP) quadrupled from $8 billion in 1972 to $32.45 billion in 1980, for an inflation-adjusted average growth rate of 6% per year. [40] Indeed, according to the U.S.-based Heritage Foundation, the Philippines enjoyed its best economic development since 1945 between 1972 and 1980.