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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 ...
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.
The Defining Moment: The Great Depression and the American Economy in the Twentieth Century (1998). Advanced economic history. Bremer, William W. "Along the American Way: The New Deal's Work Relief Programs for the Unemployed." Journal of American History 62 (December 1975): 636–652 online; Cannadine, David (2007). Mellon: An American Life.
At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better.
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.
The 1990s were the longest period of economic growth in American history up to that point. The collapse of the speculative dot-com bubble, a fall in business outlays and investments, and the September 11th attacks, [73] brought the decade of growth to an end. Despite these major shocks, the recession was brief and shallow. [74] Great Recession
This is an accepted version of this page This is the latest accepted revision, reviewed on 25 January 2025. "American history" redirects here. For the history of the continents, see History of the Americas. Further information: Economic history of the United States Current territories of the United States after the Trust Territory of the Pacific Islands was given independence in 1994 This ...
The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1899, depending on the metrics used. [1] It was most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War.