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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 ...
Although the impact of the Great Depression on Great Britain was less severe than elsewhere, the industrial cities of the Midlands, the North, and Scotland were very hard-hit. [1] Liverpool and Manchester, with years of high unemployment, had already acquired a reputation as highly depressed areas.
The act and tariffs imposed by America's trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the Great Depression. [5] Economists and economic historians have agreed that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression. [6]
The Great Depression, which followed the Wall Street Crash of 1929, had extreme negative effects on the countries of Latin America. [6] Chile, Peru, and Bolivia were, according to a League of Nations report, the countries that were the worst hit by the Depression. The rise of fascism also became apparent in Latin America in the 1930s because of ...
The gold bloc were seven countries led by France [1] that stuck to the gold standard monetary policy during the Great Depression, even though many other countries abandoned it. In addition to France, the gold bloc included Belgium , Luxembourg , the Netherlands , Italy , Poland , and Switzerland .
The upheaval associated with the transition from a wartime to peacetime economy contributed to a depression in 1920 and 1921. The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1]
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)