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The Great Depression did not strongly affect Japan. The Japanese economy shrank by 8% during 1929–31. Japan's Finance Minister Takahashi Korekiyo was the first to implement what have come to be identified as Keynesian economic policies: first, by large fiscal stimulus involving deficit spending; and second, by devaluing the currency ...
While not rejecting that it was inadequate demand that sustained the depression, according to Peter Temin, Barry Wigmore, Gauti B. Eggertsson and Christina Romer the key to recovery and the end of the Great Depression was the successful management of public expectations.
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 recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States.. By the spring of 1937, production, profits, and wages had regained their early 1929 levels.
Two years ago, a student at the University of Michigan asked Berkshire Hathaway (NYS: BRK.B) Vice Chairman Charlie Munger to compare the 2008 financial crisis to the Great Depression. Munger, as ...
Further decreases in trade of manufactured products led to layoffs and reduced corporate profits, weakening the economy. General consensus among economists is that the Smoot-Hawley Act did not cause the Depression, but did worsen it and stunted recovery efforts after 1933. Exports declined from $5.2 billion in 1929 to just $1.7 billion in 1933.
You know, there have been so many errors -- in some cases they've been deliberate distortions -- about the impact of President Franklin D. Roosevelt's innovative New Deal policies on the U.S ...