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Differences explicitly pointed out between the recession and the Great Depression include the facts that over the 79 years between 1929 and 2008, great changes occurred in economic philosophy and policy, [9] the stock market had not fallen as far as it did in 1932 or 1982, the 10-year price-to-earnings ratio of stocks was not as low as in the ...
The American economy took a sharp downturn in mid-1937, lasting for 13 months through most of 1938. Industrial production declined almost 30 percent, and production of durable goods fell even faster. Unemployment jumped from 14.3% in May 1937 to 19.0% in June 1938. [1] Manufacturing output fell by 37% from the 1937 peak and was back to 1934 ...
The key economic paper looking at these diagnostic sources in relation to the Great Depression is Cole and Ohanian's work. Cole-Ohanian point at two policies of New Deal: the National Industrial Recovery Act and National Labor Relations Act (NLRA), the latter strengthening NIRA's labor provision.
The First New Deal (1933–1934) dealt with the pressing banking crisis through the Emergency Banking Act and the 1933 Banking Act.The Federal Emergency Relief Administration (FERA) provided US$500 million (equivalent to $11.8 billion in 2023) for relief operations by states and cities, and the short-lived CWA gave locals money to operate make-work projects from 1933 to 1934. [2]
The Depression Dilemmas of Rural Iowa, 1929–1933 (University of Missouri Press, 2012) Rauchway, Eric. The Great Depression and the New Deal: A Very Short Introduction (2008) excerpt and text search; Roose, Kenneth D. "The Recession of 1937–38" Journal of Political Economy, 56#3 (1948), pp. 239–248 JSTOR 1825772; Rose, Nancy.
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 Federal Reserve – The US Central Bank practiced sterilization in the troubled interwar period leading up to the Great Depression. In macroeconomics, sterilization is action taken by a country's central bank to counter the effects on the money supply caused by a balance of payments surplus or deficit. [1]
The term was reportedly coined by Claudia Goldin and Robert Margo [1] in a 1992 paper, [2] and is a takeoff on the Great Depression, an event during which the Great Compression started. Share of pre-tax household income received by the top 1%, top 0.1%, and top 0.01%, between 1917 and 2005 [ 3 ] [ 4 ]