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In most countries of the world, recovery from the Great Depression began in 1933. [8] In the U.S., recovery began in early 1933, [8] but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933.
The Great Depression drastically changed many economists' and politicians' perceptions of capitalism, while the Second World War required massive reparations and reinvestment. As a result, many countries set about developing the welfare state in the second half of the 20th century.
This is a list of sovereign states in the 1930s, giving an overview of states around the world during the period between 1 January 1930 and 31 December 1939. It contains entries, arranged alphabetically, with information on the status and recognition of their sovereignty .
Throughout the industrial world, cities were devastated during the Great Depression, beginning in 1929 and lasting through most of the 1930s. Worst hit were port cities (as world trade fell) and cities that depended on heavy industry, such as the steel and automotive industries. Service-oriented cities were hurt less severely.
The Gilded Age was also an era of poverty, [3] [4] especially in the South, and growing inequality, as millions of immigrants poured into the United States, and the high concentration of wealth became more visible and contentious. [5] Railroads were the major growth industry, with the factory system, oil, mining, and finance increasing in ...
The Great Depression: An Inquiry into the Causes, Course, and Consequences of the Worldwide Depression of the Nineteen-Thirties, As Seen by Contemporaries (1986). Grenville, J.A.S. A History of the World in the Twentieth Century (Harvard UP, 1994) pp 160–251. Grossman, Mark.
"Inside the World Bank's new inequality indicator: The number of countries with high inequality". World Bank. {}: CS1 maint: multiple names: authors list ; Global Peace Index Map of Gini data for 2007–2010; Shadow economies all over the world : new estimates for 162 countries from 1999 to 2007. Friedrich Schneider, Andreas Buehn, Claudio E ...
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]