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An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. It is often understood in economics that economic crisis and the following recession that may be named economic depression are part of economic cycles where the slowdown of the economy follows the economic growth and vice versa.
Rosen, Elliot A. Roosevelt, the Great Depression, and the Economics of * Recovery (2005) ISBN 0-8139-2368-9 * Rosen, Elliot A. Hoover, Roosevelt, and the Brains Trust : from depression to New Deal (1977) online; Rothbard, Murray N. America's Great Depression (1963) Saloutos, Theodore. The American Farmer and the New Deal (1982) online ...
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 ...
An economic depression refers to “a severe, sustained period of economic weakness.” The last one, the Great Depression, technically ran from October 1929 to 1933, but the U.S.’s economy didn ...
Essays on the Great Depression (2000) Bernstein, Michael A. The Great Depression: Delayed Recovery and Economic Change in America, 1929–1939 (1989) focus on low-growth and high-growth industries; Bordo, Michael D., Claudia Goldin, and Eugene N. White, eds. The Defining Moment: The Great Depression and the American Economy in the Twentieth ...
The American economy has always been cyclical, going from boom to bust and back again. However, 2020 saw an entire economic cycle in a matter of months. The economy was in a solid expansion at the...
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.
The Great Depression was the worst economic crisis in US history. More than 15 million Americans were left jobless and unemployment reached 25%. 25 vintage photos show how desperate and desolate ...