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The causes of the Great Depression in the early 20th century in the United States have been extensively discussed by economists and remain a matter of active debate. [1] They are part of the larger debate about economic crises and recessions. The specific economic events that took place during the Great Depression are well established.
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity, industrial production, and trade; and widespread bank and business failures around the world.
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
US annual real GDP from 1910 to 1960, with the years of the Great Depression (1929–1939) highlighted Unemployment rate in the US 1910–60, with the years of the Great Depression (1929–39) highlighted; accurate data begins in 1939, represented by a blue line. The Depression caused major political changes in America.
Imports during 1929 were only 4.2% of the U.S. GNP, and exports were only 5.0%. Monetarists, such as Milton Friedman, who emphasized the central role of the money supply in causing the depression, considered the Smoot–Hawley Act to be only a minor cause for the Great Depression in the United States. [32]
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)
The Ohio River flood of 1937 took place in late January and February 1937. With damage stretching from Pittsburgh , Pennsylvania , to Cairo, Illinois , 385 people died, one million people were left homeless and property losses reached $500 million ($10.2 billion when adjusted for inflation as of September 2022).
The history of Ohio as a state ... Federated Department Stores was founded in Columbus in 1929, ... and munitions to the Allied cause. Ohio manufactured 8.4 ...