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Paul Kennedy posits that continued deficit spending, especially on military build-up, is the single most important reason for decline of any great power. The costs of the wars in Iraq and Afghanistan were as of 2017 estimated to run as high as $4.4 trillion, which Kennedy deems a major victory for Osama bin Laden, whose announced goal was to humiliate America by showcasing its casualty ...
A Monetary History of the United States, 1867–1960. University of Chicago Press. pp. 231– 239. ISBN 978-0691003542. Leab, Daniel, ed. Encyclopedia of American Recessions and Depressions (2 vol ABC-CLIO, 2014). Meltzer, Allan H. (2003). A History of the Federal Reserve – Volume 1: 1913–1951. University of Chicago Press. pp. 109– 131.
In 1882 this trend reversed, resulting in a decline in railroad construction and a decline in related industries, particularly iron and steel. [6] Mismanagement and rate wars negatively affected profitability and the luster of railroads as an investment was dulled; money dried up and construction of new lines was negatively impacted, falling from 11,569 miles in 1882 to 6,741 miles in 1883.
America's Greatest Depression (1970). overview by economic historian. online; Cravens, Hamilton. Great Depression: People and Perspectives (2009), social history excerpt and text search; Dickstein, Morris. Dancing in the Dark: A Cultural History of the Great Depression (2009) excerpt and text search; Field, Alexander J.
The Panic of 1825, a stock crash following a bubble of speculative investments in Latin America led to a decline in business activity in the United States and England. The recession coincided with a major panic, the date of which may be more easily determined than general cycle changes associated with other recessions.
The initial decline lasted from mid-1929 to mid-1931. During this time, most people believed that the decline was merely a bad recession, worse than the recessions that occurred in 1923 and 1927, but not as bad as the Depression of 1920–1921. Economic forecasters throughout 1930 optimistically predicted an economic rebound come 1931, and felt ...
The economic hard times caused debates over whether America should remain on the gold standard or use a bimetallic standard. The continued economic hardships after the Panic of 1893 and the 1895 Morgan Bonds episode into the Panic of 1896 increased American worry about the strength of the American economy. [ 2 ]
The former Packard Automotive Plant in Detroit, a recognizable symbol of the decline of the city's once vibrant automotive industry. The term deindustrialization crisis has been used to describe the decline of labor-intensive industry in a number of countries and flight of jobs away from cities.