Search results
Results from the WOW.Com Content Network
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 ...
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.
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.
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.
Overproduction led to plummeting prices which led to stagnant market conditions and living standards for farmers in the 1920s. Worse, hundreds of thousands of farmers had taken out mortgages and loans to buy new equipment and land to expand and were now unable to meet the financial burden.
The term arose during the foreclosure of farms during the Great Depression in the United States. Neighbors would gather in large numbers at the auction and place bids of only a few pennies, while intimidating anyone who attempted to bid competitively. [1]
The Farmers' Holiday Association was a movement of Midwestern United States farmers who, during the Great Depression, endorsed the withholding of farm products from the market, in essence creating a farmers' holiday from work.