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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 ...
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 Depression meant people had to get creative, making items that most of us would never think to craft ourselves. For instance, there was little money for toys, so kids played with box forts ...
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 process of bringing great numbers of children into the workforce, the War altered the lives of many adolescents. Lured by high wartime wages, they took jobs and forgot about their education. Between 1940 and 1944, the number of teenage workers in America increased by 1.9 million; the number attending school declined by 1.25 million.
Golden Fetters: The gold standard and the Great Depression, 1919–1939. 1992. Feinstein. Charles H. The European Economy between the Wars (1997) Garraty, John A. The Great Depression: An Inquiry into the causes, course, and Consequences of the Worldwide Depression of the Nineteen-Thirties, as Seen by Contemporaries and in Light of History (1986)
Comparisons between the Great Recession and the Great Depression explores the experiences in the United States and the United Kingdom.. On April 17, 2009, head of the IMF Dominique Strauss-Kahn said that there was a chance that certain countries may not implement the proper policies to avoid feedback mechanisms that could eventually turn the recession into a depression.
The Great Depression in France started in about 1931 and lasted through the remainder of the decade. The crisis started in France a bit later than other countries. [ 1 ] The 1920s economy had grown at the very strong rate of 4.43% per year, the 1930s rate fell to only 0.63%. [ 2 ]