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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 ...
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.
Florida's economic decline predated the start of the Great Depression. Therefore, it had fewer resources and more debt "than other regions of the nation." Large amounts of local debt financing through bonds worsened the economic situation in the state with most of it coming from the years of the land boom.
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) Garraty, John A. Unemployment in History (1978) Garside, William R. Capitalism in Crisis: International Responses to the Great Depression (1993) Haberler ...
Continue reading → The post Recession vs. Depression: Key Differences appeared first on SmartAsset Blog. When an economic storm rolls in, you might wonder if the economy has hit a recession or ...
Whig cartoon showing the effects of unemployment on a family that has portraits of Democratic Presidents Andrew Jackson and Martin Van Buren on the wall. The Panic of 1837 was a financial crisis in the United States that began a major depression which lasted until the mid-1840s.
In the United States, the Panic was known as the "Great Depression" until the events of 1929 and the early 1930s set a new standard. [ 2 ] The Panic of 1873 and the subsequent depression had several underlying causes for which economic historians debate the relative importance.
With the failure to recharter the First Bank of the United States in 1811, [16] regulatory influence over state banks ceased. Credit-friendly Republicans—entrepreneurs, bankers, farmers—adapted laissez-faire financial principles to the precepts of Jeffersonian political libertarianism [17] —equating land speculation with "rugged individualism" [18] and the frontier spirit.