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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]
Essays on the Great Depression (2000) Bernstein, Michael A. The Great Depression: Delayed Recovery and Economic Change in America, 1929–1939 (1989) focus on low-growth and high-growth industries; Bordo, Michael D., Claudia Goldin, and Eugene N. White, eds. The Defining Moment: The Great Depression and the American Economy in the Twentieth ...
The Great Depression did not strongly affect Japan. The Japanese economy shrank by 8% during 1929–31. Japan's Finance Minister Takahashi Korekiyo was the first to implement what have come to be identified as Keynesian economic policies: first, by large fiscal stimulus involving deficit spending; and second, by devaluing the currency ...
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.
You know, there have been so many errors -- in some cases they've been deliberate distortions -- about the impact of President Franklin D. Roosevelt's innovative New Deal policies on the U.S ...
Fearing that aid recipients would become dependent on their assistance, Oklahoma City administrators sparingly doled out federal and local relief funds; city leaders initiated a campaign to discourage migration into the city; local newspapers failed to print the location of soup lines; voters rejected a bond issue to bolster relief funds; and ...
In February 2009 during the Senate confirmation hearing for Energy Secretary Steven Chu, Republican Senator John Barrasso waved a copy of the book and announced, "In these economic times, a number of members of the Senate are reading a book called The Forgotten Man, about the history of the Great Depression, as we compare and look for solutions ...
Further decreases in trade of manufactured products led to layoffs and reduced corporate profits, weakening the economy. General consensus among economists is that the Smoot-Hawley Act did not cause the Depression, but did worsen it and stunted recovery efforts after 1933. Exports declined from $5.2 billion in 1929 to just $1.7 billion in 1933.