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The Great Depression began in the United States of America and quickly spread worldwide. [42] It had severe effects in countries both rich and poor. Personal income, consumption, industrial output, tax revenue, profits and prices dropped, while international trade plunged by more than 50%.
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 ...
This year marked the end of a period known in American history as the Roaring Twenties after the Wall Street Crash of 1929 ushered in a worldwide Great Depression. In the Americas, an agreement was brokered to end the Cristero War, a Catholic counter-revolution in Mexico.
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 ...
From the depression of 1920–1921 until the Great Depression, an era dubbed the Roaring Twenties, the economy was generally expanding. Industrial production declined in 1923–24, but on the whole this was a mild recession. [26] [34] [35] [36] 1926–1927 recession October 1926 – November 1927 1 year 1 month
During the Depression, a piece of cardboard or a new rubber sole may have extended the wear of a pricey pair, and clothes were certainly mended and patched long before they were ever thrown out.
Economists first named a period of time the Great Depression in 1893. In 1933 they changed their minds. Throughout modern economic history, the business cycle has experienced an abnormally severe ...
Dorothea Lange's Migrant Mother, an iconic image of the Great Depression in the United States 1930 – The Great Depression in the United States continues to worsen, reaching a nadir in early 1933. 1930 – The Motion Picture Production Code becomes set of industry censorship guidelines governing production of the vast majority of United States ...