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An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. It is often understood in economics that economic crisis and the following recession that may be named economic depression are part of economic cycles where the slowdown of the economy follows the economic growth and vice versa.
The First New Deal (1933–1934) dealt with the pressing banking crisis through the Emergency Banking Act and the 1933 Banking Act.The Federal Emergency Relief Administration (FERA) provided US$500 million (equivalent to $11.8 billion in 2023) for relief operations by states and cities, and the short-lived CWA gave locals money to operate make-work projects from 1933 to 1934. [2]
A statement on the government's website said the State Council had approved a plan to invest 4 trillion yuan in infrastructure and social welfare by the end of 2010. [5] [6] This stimulus, equivalent to US$586 billion, represented a pledge comparable to that subsequently announced by the United States, but which came from an economy only one third the size. [7]
A recession is coming even with rate cuts indicators show a deteriorating economic outlook, according to BCA Research. Rate cuts won't prevent a recession and the economy is deteriorating 'quite ...
When an economic storm rolls in, you might wonder if the economy has hit a recession or depression. Although both indicate difficult economic downturns, the causes and effects of each vary ...
Since the Great Depression, there have been 14 recessions, which are part of the normal economic cycle. Economists keep waffling on whether or not the U.S. is going to head into one in 2024 after ...
The Return of Depression Economics and the Crisis of 2008 is a non-fiction book by American economist and Nobel Prize winner Paul Krugman, written in response to growing socio-political discourse on the return of economic conditions similar to The Great Depression. [1]
Rethinking the Great Depression (2002) ISBN 1-56663-472-5 economist blames Federal Reserve and gold standard; Smith, Jason Scott. Building New Deal Liberalism: The Political Economy of Public Works, 1933–1956 (2005). online; Sternsher, Bernard, ed., Hitting Home: The Great Depression in Town and Country (1970), readings by experts on local ...