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In most countries of the world, recovery from the Great Depression began in 1933. [8] In the U.S., recovery began in early 1933, [8] but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933.
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The term was reportedly coined by Claudia Goldin and Robert Margo [1] in a 1992 paper, [2] and is a takeoff on the Great Depression, an event during which the Great Compression started. Share of pre-tax household income received by the top 1%, top 0.1%, and top 0.01%, between 1917 and 2005 [ 3 ] [ 4 ]
The World Between the Wars, 1919–39: An Economist's View (1974) Drinot, Paulo, and Alan Knight, eds. The Great Depression in Latin America (2014) excerpt; Eichengreen, Barry. Golden Fetters: The gold standard and the Great Depression, 1919–1939. 1992. Feinstein. Charles H. The European Economy between the Wars (1997) Garraty, John A.
America in the 1930s Extensive library of projects on America in the Great Depression from American Studies at the University of Virginia; The 1930s Timeline year by year timeline of events in science and technology, politics and society, culture and international events with embedded audio and video. AS@UVA
These began as the Great Depression wore on and ceased on the eve of World War II. The unrest served to highlight inequalities of wealth, led the British government to attempt a solution to the problem, and in some cases spurred the development of indigenous party politics that would lead to self-government and independence in the postwar period.
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The Educational Institute of Scotland, the oldest teachers' trade union in the world, was founded. 1847 (United States) New Hampshire is first state to establish the ten-hour workday. [6] 1848 (United States) Pennsylvania's child labor law establishes the age of 12 as the minimum age for workers in commercial occupations. [6] 1848 (Germany)