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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.
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 ...
Central to Middlemarch is the idea that Dorothea Brooke cannot hope to achieve the heroic stature of a figure like Saint Teresa, for Eliot's heroine lives at the wrong time, "amidst the conditions of an imperfect social state, in which great feelings will often take the aspect of error, and great faith the aspect of illusion". [25]
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 ...
Economists first named a period of time the Great Depression in 1893. In 1933 they changed their minds. Throughout modern economic history, the business cycle has experienced an abnormally severe ...
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 ...
Two years ago, a student at the University of Michigan asked Berkshire Hathaway (NYS: BRK.B) Vice Chairman Charlie Munger to compare the 2008 financial crisis to the Great Depression. Munger, as ...
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 ...