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The Great Depression did not strongly affect Japan. The Japanese economy shrank by 8% during 1929–31. Japan's Finance Minister Takahashi Korekiyo was the first to implement what have come to be identified as Keynesian economic policies: first, by large fiscal stimulus involving deficit spending; and second, by devaluing the currency ...
Herbert Hoover and the Great Depression (1959). scholarly history online; Watkins, T. H. The Great Depression: America in the 1930s. (2009) online; popular history. Wecter, Dixon. The Age of the Great Depression, 1929–1941 (1948), scholarly social history online; Wicker, Elmus. The Banking Panics of the Great Depression (1996) White, Eugene N.
Further decreases in trade of manufactured products led to layoffs and reduced corporate profits, weakening the economy. General consensus among economists is that the Smoot-Hawley Act did not cause the Depression, but did worsen it and stunted recovery efforts after 1933. Exports declined from $5.2 billion in 1929 to just $1.7 billion in 1933.
As Governor of New York, Franklin D. Roosevelt had campaigned for the Presidency, in part, on a pledge to balance the federal budget. [4] [5] On March 10, 1933, six days after his inauguration, Roosevelt submitted legislation to Congress which would cut $500 million ($8.181 billion in 2009 dollars) from the $3.6 billion federal budget by eliminating government agencies, reducing the pay of ...
Therefore, he did not fully utilize deficit spending. [8] Between 1933 and 1941 the average federal budget deficit was 3% per year. [9] In November 1937 Roosevelt decided that big businesses were trying to ruin the New Deal by causing another depression that voters would react against by voting Republican. [10]
You know, there have been so many errors -- in some cases they've been deliberate distortions -- about the impact of President Franklin D. Roosevelt's innovative New Deal policies on the U.S ...
During the Depression, a piece of cardboard or a new rubber sole may have extended the wear of a pricey pair, and clothes were certainly mended and patched long before they were ever thrown out.
Civil Works Administration workers cleaning and painting the gold dome of the Colorado State Capitol (1934).. The Civil Works Administration (CWA) was a short-lived job creation program established by the New Deal during the Great Depression in the United States in order to rapidly create mostly manual-labor jobs for millions of unemployed workers.