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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 ...
The Great Depression had particularly strong effects on the Black community in the 1920s and 30s, forcing Black women to reckon with their relationship to the U.S. government. Due to the downturned economy, jobs were scarce and Black men were a huge target of the lay-offs, making up a large population of the unemployed during the Depression.
The Depression meant people had to get creative, making items that most of us would never think to craft ourselves. For instance, there was little money for toys, so kids played with box forts ...
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 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. [6]
It's true that history often repeats itself. And with the precarious financial times of 2022, many have understandably felt there might be a repeat of the Great Depression, the decade from 1929 ...
Differences explicitly pointed out between the recession and the Great Depression include the facts that over the 79 years between 1929 and 2008, great changes occurred in economic philosophy and policy, [9] the stock market had not fallen as far as it did in 1932 or 1982, the 10-year price-to-earnings ratio of stocks was not as low as in the ...
In Freedom from Fear, the Wall Street crash of 1929 marked the Great Depression's beginning [34] but did not cause it, as according to Kennedy international economic conditions were more responsible for the economic depression. [23] Kennedy's depiction of United States president Herbert Hoover's handling of the early depression is sympathetic. [35]