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Economic historians have explored the high degree of financial and economic instability in the Jacksonian era. For the most part, they follow the conclusions of Peter Temin, who absolved Jackson's policies, and blamed international events beyond American control, such as conditions in Mexico, China, and Britain.
Looking at US history, for example, Turchin identified times of serious sociopolitical instability in 1870, 1920, and 1970. He announced in 2010 that he had predicted that in 2020, the US would witness a period of unrest at least on the same level as 1970 because the first cycle coincides with the turbulent part of the second in around 2020.
The 1990s were the longest period of economic growth in American history up to that point. The collapse of the speculative dot-com bubble, a fall in business outlays and investments, and the September 11th attacks, [73] brought the decade of growth to an end. Despite these major shocks, the recession was brief and shallow. [74] Great Recession
Economic historians have explored the high degree of financial and economic instability in the Jacksonian era. For the most part, they follow the conclusions of Peter Temin , who absolved Jackson's policies, and blamed international events beyond American control, such as conditions in Mexico, China and Britain.
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
A failed state is a state that has lost its ability to fulfill fundamental security and development functions, lacking effective control over its territory and borders. . Common characteristics of a failed state include a government incapable of tax collection, law enforcement, security assurance, territorial control, political or civil office staffing, and infrastructure maintenan
In the United States the unofficial beginning and ending dates of national economic expansions have been defined by an American private non-profit research organization known as the National Bureau of Economic Research (NBER). The NBER defines an expansion as a period when economic activity rises substantially, spreads across the economy, and ...
Famous instances of great economic and social mobility include Benjamin Franklin and Henry Ford. [4] Additional popular examples of upward social mobility between generations in America include Abraham Lincoln and Bill Clinton, who were born into working-class families yet achieved high political office in adult life.