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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 ...
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.
The Wall Street Crash of 1929 and the ensuing Great Depression led to government efforts to restart the economy and help its victims. The recovery, however, was very slow. The nadir of the Great Depression was 1933, and recovery was rapid until the recession of 1938 proved a setback.
In most respects, April 28, 1942, was much like any other day of the Great Depression era for American markets. "The stock market lacked buying confidence today and leading issues retreated.
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 lessons of the generation that weathered the Great Depression include self-sufficiency, frugality, and improvisation. See how to tap those notions today.
Crowd at New York's American Union Bank during a bank run early in the Great Depression. Together, the 1929 stock market crash and the Great Depression formed the largest financial crisis of the 20th century. [47] The panic of October 1929 has come to serve as a symbol of the economic contraction that gripped the world during the next decade. [48]
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) Garraty, John A. Unemployment in History (1978) Garside, William R. Capitalism in Crisis: International Responses to the Great Depression (1993) Haberler ...