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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.
Unemployment fell dramatically during Roosevelt's first term. It increased in 1938 ("a depression within a depression") but continually declined after 1938. [208] Total employment during Roosevelt's term expanded by 18.31 million jobs, with an average annual increase in jobs during his administration of 5.3%. [210] [211]
The worldwide Great Depression of the early 1930s was a social and economic shock that left millions of Canadians unemployed, hungry and often homeless. Few countries were affected as severely as Canada during what became known as the "Dirty Thirties", due to Canada's heavy dependence on raw material and farm exports, combined with a crippling ...
A girl listening to vacuum-tube radio during the Great Depression As a cultural narrative, the Silent Generation are described as children of the Great Depression whose parents, having revelled in the highs of the Roaring Twenties , now faced great economic hardship and struggled to provide for their families.
The researchers examined data from 832 participants in the U.S. Health and Retirement Study, all of whom were born in the 1930s during the Great Depression—the worst economic downturn in the ...
At the height of the Great Depression, in 1933, Keynes published The Means to Prosperity, which contained specific policy recommendations for tackling unemployment in a global recession, chiefly counter-cyclical public spending. The Means to Prosperity contains one of the first mentions of the multiplier effect. While it was addressed chiefly ...