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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 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.
Financial repression "played an important role in reducing debt-to-GDP ratios after World War II" by keeping real interest rates for government debt below 1% for two-thirds of the time between 1945 and 1980, the United States was able to "inflate away" the large debt (122% of GDP) left over from the Great Depression and World War II. [2]
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 Return of Depression Economics and the Crisis of 2008 is a non-fiction book by American economist and Nobel Prize winner Paul Krugman, written in response to growing socio-political discourse on the return of economic conditions similar to The Great Depression. [1]
Causes of the Great Depression - Wikipedia