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Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of the Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great ...
Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of the Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great ...
Examining the causes of the Great Depression raises multiple issues: what factors set off the first downturn in 1929; what structural weaknesses and specific events turned it into a major depression; how the downturn spread from country to country; and why the economic recovery was so prolonged.
In the United States, the Panic was known as the "Great Depression" until the events of 1929 and the early 1930s set a new standard. [2] The Panic of 1873 and the subsequent depression had several underlying causes for which economic historians debate the relative importance.
The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
The upheaval associated with the transition from a wartime to peacetime economy contributed to a depression in 1920 and 1921. The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1]
Long believed that the underlying cause of the Great Depression – which he called "Mr. Roosevelt's depression" – was the growing disparity between the rich and everyone else. [1] For most of his political career, he focused his speeches and efforts on the "little man", referring to the rural poor. [3]
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...