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e. Tariffs have historically served a key role in the trade policy of the United States. Their purpose was to generate revenue for the federal government and to allow for import substitution industrialization (industrialization of a nation by replacing imports with domestic production) by acting as a protective barrier around infant industries. [1]
v. t. e. In economics, deflation is a decrease in the general price level of goods and services. [1] Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). Inflation reduces the value of currency over time, but deflation increases it. This allows more goods and services to be bought than before with the same amount ...
The inflation rate declined from 10% in 1980 to 4% in 1988. [7] Some economists have stated that Reagan's policies were an important part of bringing about the third longest peacetime economic expansion in U.S. history. [42] [43] During the Reagan administration, real GDP growth averaged 3.5%, compared to 2.9% during the preceding eight years. [44]
The Panic of 1837 was a financial crisis in the United States that began a major depression which lasted until the mid-1840s. Profits, prices, and wages dropped, westward expansion was stalled, unemployment rose, and pessimism abounded. The panic had both domestic and foreign origins. Speculative lending practices in the West, a sharp decline ...
The Great Deflation. The Great Deflation or the Great Sag refers to the period from 1870 until 1890 in which the world prices of goods, materials and labor decreased, although at a low rate of less than 2% annually. [1][dead link] This was one of the few sustained periods of deflationary growth in the history of the United States. [citation ...
Everyone's heard about inflation and how everything's becoming unaffordable -- but few are aware of "deflation" and its equally negative impact on our finances. According to experts, deflation ...
In United States history, the Gilded Age is described as the period from about the late 1870s to the late 1890s, which occurred between the Reconstruction Era and the Progressive Era. It was named by 1920s historians after an 1873 Mark Twain novel. Historians saw late 19th-century economic expansion as a time of materialistic excesses marked by ...
Depression of 1920–1921. A 1919 parade in Washington, D.C. for soldiers returning home after World War I. 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 ...