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Essays on the Great Depression (2000) Bernstein, Michael A. The Great Depression: Delayed Recovery and Economic Change in America, 1929–1939 (1989) focus on low-growth and high-growth industries; Bordo, Michael D., Claudia Goldin, and Eugene N. White, eds. The Defining Moment: The Great Depression and the American Economy in the Twentieth ...
1998–2002 Argentine great depression; Early 2000s recession. Dot-com bubble (2000–2002) (US) 2001 Turkish economic crisis; September 11 attacks (2001) 2002 Uruguay banking crisis; 2002–2003 Venezuelan general strike; 2006–2012 New Zealand finance company collapses; 2008 financial crisis; Great Recession (worldwide)
Overproduction is the accumulation of unsalable inventories in the hands of businesses. Overproduction is a relative measure, referring to the excess of production over consumption. The tendency for an overproduction of commodities to lead to economic collapse is specific to the capitalist economy. In previous economic formations, an abundance ...
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.
Unemployed men, marching for jobs during the Great Depression.. In macroeconomics, a general glut is an excess of supply in relation to demand; specifically, when there is more production in all fields of production in comparison with what resources are available to consume (purchase) said production.
The Great Depression of the 1930s and 40s resulted, in part, due to major devaluation of capital and labor concluding in massive unemployment. The 1980s were also dangerous times for capitalist industrial nations when unemployment rose over 10 percent in 1983 and massive amounts of inventory lay unsold.
From the depression of 1920–1921 until the Great Depression, an era dubbed the Roaring Twenties, the economy was generally expanding. Industrial production declined in 1923–24, but on the whole this was a mild recession. [26] [34] [35] [36] 1926–1927 recession October 1926 – November 1927 1 year 1 month 2 years 3 months −12.2% −10.0%
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.