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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 ...
The Great Depression was much less severe than in the United States, primarily because the sharp drop in the cost of food work to the benefit of the working class in the city. Washington provided much of the funding for a large middle-class bureaucracy and for major construction projects.
A map of British India in 1909. The Great Depression in India was a period of economic depression in the Indian subcontinent, then under British colonial rule.Beginning in 1929 in the United States, the Great Depression soon began to spread to countries around the globe.
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 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. [2]
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 ...
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.
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]