query: When was "the Great Depression"?

title: Great Depression

text: Great Depression The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries it started in 1929 and lasted until the late-1930s. It was the longest, deepest, and most widespread depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how intensely the world's economy can decline. The Great Depression started in the United States after a major fall in stock prices that began around September 4, 1929, and

title: Great Depression

text: extremes; half the unemployed had been out of work for over six months, something that was not repeated until the late-2000s recession. 2007 and 2008 eventually saw the world reach new levels of wealth gap inequality that rivalled the years of 1928 and 1929. General: Great Depression The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries it started in 1929 and lasted until the late-1930s. It was the longest, deepest, and most widespread depression of the

title: Great Depression in the Netherlands

text: Great Depression in the Netherlands The Great Depression in the Netherlands occurred between 1933 and 1936, significantly later than in most other countries. It was a period of severe economic crisis in the 1930s which affected countries around the world, including the Netherlands (, de Crisisjaren, de Crisistijd). In the United States, the Wall Street Crash of 1929 is understood as the start of the Great Depression. But in the Netherlands the depression started more gradually, in 1929–1931, while the economy had been in a gradual decline for a longer period. In the Netherlands the depression lasted significantly longer than

title: Great Depression in the United Kingdom

text: defending the value of the currency. Great Depression in the United Kingdom The Great Depression in the United Kingdom, also known as the Great Slump, was a period of national economic downturn in the 1930s, which had its origins in the global Great Depression. It was Britain's largest and most profound economic depression of the 20th century. The Great Depression originated in the United States in late 1929 and quickly spread to the world. Britain had never experienced the boom that had characterized the U.S., Germany, Canada and Australia in the 1920s, so its effect appeared less severe. Britain's world

title: Great Depression in the United Kingdom

text: Great Depression in the United Kingdom The Great Depression in the United Kingdom, also known as the Great Slump, was a period of national economic downturn in the 1930s, which had its origins in the global Great Depression. It was Britain's largest and most profound economic depression of the 20th century. The Great Depression originated in the United States in late 1929 and quickly spread to the world. Britain had never experienced the boom that had characterized the U.S., Germany, Canada and Australia in the 1920s, so its effect appeared less severe. Britain's world trade fell by half (1929–33), the

title: Timeline of the Great Depression

text: on March 31, 1934, when it would be replaced by the more permanent Works Progress Administration December 5th - Prohibition is repealed at the national level. 18 states continue with state-level prohibition. The end of Prohibition hurts organized crime, allows legal employment in alcoholic drink production, and increases state tax revenues. Timeline of the Great Depression The initial economic collapse which resulted in the Great Depression can be divided into two parts: 1929 to mid-1931, and then mid-1931 to 1933. The initial decline lasted from mid-1929 to mid-1931. During this time, most people believed that the decline was merely a

title: America's Great Depression

text: 1929 as evidence that the depression was essentially caused not by speculation, but by government and central bank interference in the market. America's Great Depression America's Great Depression is a 1963 treatise on the 1930s Great Depression and its root causes, written by Austrian School economist and author Murray Rothbard. The fifth edition was released in 2000. Rothbard holds the interventionist policies of the Herbert Hoover administration responsible for magnifying the duration, breadth, and intensity of the Great Depression. Rothbard explains the Austrian theory of the business cycle, which holds that government manipulation of the money supply sets the stage

title: Causes of the Great Depression

text: these developments, the Keynesian explanation of the Great Depression was increasingly accepted by economists, historians, and politicians". In their 1963 book "A Monetary History of the United States, 1867–1960", Milton Friedman and Anna Schwartz laid out their case for a different explanation of the Great Depression. Essentially, the Great Depression, in their view, was caused by the fall of the money supply. Friedman and Schwartz write: "From the cyclical peak in August 1929 to a cyclical trough in March 1933, the stock of money fell by over a third." The result was what Friedman and Schwartz called "The Great Contraction"

title: Great Depression

text: of the Great Recession seem similar to the Great Depression, but significant differences exist. The previous chairman of the Federal Reserve, Ben Bernanke, had extensively studied the Great Depression as part of his doctoral work at MIT, and implemented policies to manipulate the money supply and interest rates in ways that were not done in the 1930s. Generally speaking, the recovery of the world's financial systems tended to be quicker during the Great Depression of the 1930s as opposed to the late-2000s recession. 1928 and 1929 were the times in the 20th century that the wealth gap reached such skewed

title: Great Depression in the Netherlands

text: fully be implemented the Netherlands was dragged into World War II. On 10 May 1940, Germany invaded the Netherlands, and the Dutch economy transformed into a war economy. [3] CBS (2007), Voorburg/Heerlen Great Depression in the Netherlands The Great Depression in the Netherlands occurred between 1933 and 1936, significantly later than in most other countries. It was a period of severe economic crisis in the 1930s which affected countries around the world, including the Netherlands (, de Crisisjaren, de Crisistijd). In the United States, the Wall Street Crash of 1929 is understood as the start of the Great Depression. But

title: America's Great Depression

text: America's Great Depression America's Great Depression is a 1963 treatise on the 1930s Great Depression and its root causes, written by Austrian School economist and author Murray Rothbard. The fifth edition was released in 2000. Rothbard holds the interventionist policies of the Herbert Hoover administration responsible for magnifying the duration, breadth, and intensity of the Great Depression. Rothbard explains the Austrian theory of the business cycle, which holds that government manipulation of the money supply sets the stage for the familiar "boom-bust" phases of the modern market. He then details the inflationary policies of the Federal Reserve from 1921 to

title: Cities in the Great Depression

text: provided much of the funding for a large middle-class bureaucracy and for major construction projects. Cities in the Great Depression Throughout the industrial world, cities were hit hard during the Great Depression, beginning in 1929 and lasting through most of the 1930s. Worst hit were port cities (as world trade fell) and cities that depended on heavy industry, such as steel and automobiles. Service-oriented cities were hurt less severely. Political centers such as Canada, Texas, Washington, London and Berlin flourished during the Great Depression, as the expanded role of government added many new jobs. Canada's economy at the time was

title: Cities in the Great Depression

text: Cities in the Great Depression Throughout the industrial world, cities were hit hard during the Great Depression, beginning in 1929 and lasting through most of the 1930s. Worst hit were port cities (as world trade fell) and cities that depended on heavy industry, such as steel and automobiles. Service-oriented cities were hurt less severely. Political centers such as Canada, Texas, Washington, London and Berlin flourished during the Great Depression, as the expanded role of government added many new jobs. Canada's economy at the time was just starting to industrialize primary industries (agriculture, fishing, mining and logging) to manufacturing. Exports and

title: Comparisons between the Great Recession and the Great Depression

text: crash, the end of a massive consumption binge." In his final press conference as president, George W. Bush claimed that in September 2008 his chief economic advisors had said that the economic situation could at some point become worse than the Great Depression. A tent city in Sacramento, California was described as "images, hauntingly reminiscent of the iconic photos of the 1930s and the Great Depression" and "evocative Depression-era images." The Austrian School of economics view is that the size of a bust is based, at least in part, on the size of the preceding credit boom. A check of

text: facing Britain is uncannily similar to the 1930s, since prices of many assets – from shares to house prices – are falling at record rates [in Britain], but the value of the debt against which they are held remains unchanged." Comparisons between the Great Recession and the Great Depression Comparisons between the Great Recession and the Great Depression explores the experiences in the United States and the United Kingdom. On April 17, 2009, head of the IMF Dominique Strauss-Kahn said that there was a chance that certain countries may not implement the proper policies to avoid feedback mechanisms that could

title: Timeline of the Great Depression

text: Timeline of the Great Depression The initial economic collapse which resulted in the Great Depression can be divided into two parts: 1929 to mid-1931, and then mid-1931 to 1933. 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 1920-21. Economic forecasters throughout 1930 cheerily predicted an economic rebound come 1931, and felt vindicated by a stock market rally in the spring of 1930. The stock market crash in the

title: Great Depression

text: in the Great Depression. In the 1931 British election the Labour Party was virtually destroyed, leaving MacDonald as Prime Minister for a largely Conservative coalition. In most countries of the world, recovery from the Great Depression began in 1933. In the U.S., recovery began in early 1933, but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933. There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of

title: Entertainment during the Great Depression

text: to the public. Adults listened to newscasts, radio theater, the Grand Ole Opry, soap operas, and sermons as well. Entertainment during the Great Depression During the 1930s the United States was facing its longest and deepest economic downturn, the Great Depression. Spending money on entertainment was out of the question for most people. The United States put the nation back to work, including artists and entertainers in its assistance programs. The entertainers, in turn, provided cheap or free amusements for people, which allowed them to forget about their troubles for a while. Many films still highly cherished today were created

text: Entertainment during the Great Depression During the 1930s the United States was facing its longest and deepest economic downturn, the Great Depression. Spending money on entertainment was out of the question for most people. The United States put the nation back to work, including artists and entertainers in its assistance programs. The entertainers, in turn, provided cheap or free amusements for people, which allowed them to forget about their troubles for a while. Many films still highly cherished today were created during the 1920s. During that period, Walt Disney, the pioneer animator, produced films Americans loved to see. One of

title: Great Depression in France

text: Great Depression in France The Great Depression affected France from about 1931 through the remainder of the decade. The crisis affected France a bit later than other countries, hitting around 1931. While the 1920s grew at the very strong rate of 4.43% per year, the 1930s rate fell to only 0.63%. The depression was relatively mild: unemployment peaked under 5%, the fall in production was at most 20% below the 1929 output; there was no banking crisis. The depression had some effects on the local economy, which can partly explain the 6 February 1934 crisis and even more the formation

title: Great Depression in France

text: its Polish ally by Germany, France declared war on Germany. Great Depression in France The Great Depression affected France from about 1931 through the remainder of the decade. The crisis affected France a bit later than other countries, hitting around 1931. While the 1920s grew at the very strong rate of 4.43% per year, the 1930s rate fell to only 0.63%. The depression was relatively mild: unemployment peaked under 5%, the fall in production was at most 20% below the 1929 output; there was no banking crisis. The depression had some effects on the local economy, which can partly explain

title: Great Depression in Latin America

text: Great Depression in Latin America The Great Depression which followed the US stock market crash of 1929 badly affected the countries of Latin America. Chile, Peru, and Bolivia were, according to a League of Nations report, the countries worst-hit by the Great Depression. The rise of fascism also became apparent in Latin American countries in the 1930s due to the Great Depression. Fascist governments were the result of a desire for nationalism, which rulers like Getúlio Vargas of Brazil played on through propaganda. Haiti, for its part, came out of the Great Depression as an independent country after the US

title: Great Depression in Australia

text: prime ministership. Though Menzies was a conservative, his sixteen subsequent years in power saw the government continue the use of Keynesian methods in economic policy as well as further expansion of the Curtin and Chifley economic and social legacies. Great Depression in Australia Australia suffered badly during the period of the Great Depression of the 1930s. The Depression began with the Wall Street Crash of 1929 and rapidly spread worldwide. As in other nations, Australia suffered years of high unemployment, poverty, low profits, deflation, plunging incomes, and lost opportunities for economic growth and personal advancement. The Australian economy and foreign

title: Great Depression

text: fictional journal as told by the protagonist Minnie Swift as she recounts her experiences during the era, especially when her family takes in an orphan cousin from Texas. 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, though Hoover is widely credited with popularizing the term, informally referring to the downturn as a depression, with such uses as "Economic depression cannot be cured by legislative action or executive pronouncement" (December 1930, Message to Congress), and "I need not recount to you that the

title: Great Depression in the United States

text: to its highest point since the summer of 1929 when the depression began. By the end of 1941, before American entry into the war, defense spending and military mobilization had started one of the greatest booms in American history thus ending the last traces of unemployment. Effects of depression in the U.S.: General: Great Depression in the United States The Great Depression began in August 1929, when the United States economy first went into an economic recession. Although the country spent two months with declining GDP, it was not until the Wall Street Crash in October 1929 that the effects

title: Great Depression

text: world is passing through a great depression" (1931). The term "depression" to refer to an economic downturn dates to the 19th century, when it was used by varied Americans and British politicians and economists. Indeed, the first major American economic crisis, the Panic of 1819, was described by then-president James Monroe as "a depression", and the most recent economic crisis, the Depression of 1920–21, had been referred to as a "depression" by then-president Calvin Coolidge. Financial crises were traditionally referred to as "panics", most recently the major Panic of 1907, and the minor Panic of 1910–11, though the 1929 crisis

title: Great Depression

text: level, again worse than any nation apart from the United States. Unemployment reached 27% at the depth of the Depression in 1933. The League of Nations labeled Chile the country hardest hit by the Great Depression because 80% of government revenue came from exports of copper and nitrates, which were in low demand. Chile initially felt the impact of the Great Depression in 1930, when GDP dropped 14%, mining income declined 27%, and export earnings fell 28%. By 1932, GDP had shrunk to less than half of what it had been in 1929, exacting a terrible toll in unemployment and

title: Great Depression in the United Kingdom

text: Party was seriously hurt. The Great Depression of 1929–32 broke out at a time when the United Kingdom was still far from having recovered from the effects of the First World War. Economist Lee Ohanian showed that economic output fell by 25% between 1918 and 1921 and did not recover until the end of the Great Depression, arguing that the United Kingdom suffered a twenty-year great depression beginning in 1918. Relative to the rest of the world, economic output declined mildly in the UK between 1929 and 1934. Heavy industries which formed the bedrock of Britain's export trade (such as

text: debt levels prior and during the Great Depression shows debt levels prior to the Great Depression at about 200% of GDP, with a rise to about 300% due to massive government intervention to combat the Depression. The debt outstanding metric indicates that the Great Recession was not over by mid-2012 and would be worse than the Great Depression; only the first part of that projection turned out to be true by mid-2014. Current US debt levels are around 400% of GDP and well over the levels seen either before or during the Great Depression. According to economist Irving Fisher, the

title: Great Depression

text: tied to the rest of the world and was only slightly affected by the Great Depression. Its forced transformation from a rural to an industrial society succeeded in building up heavy industry, at the cost of millions of lives in rural Russia and Ukraine. At the time of the Depression, the Soviet economy was growing steadily, fuelled by intensive investment in heavy industry. The apparent economic success of the Soviet Union at a time when the capitalist world was in crisis led many Western intellectuals to view the Soviet system favorably. Jennifer Burns wrote: Despite all of this, The Great

title: The Great Cybernetic Depression

text: The Great Cybernetic Depression The Great Cybernetic Depression is the second studio album by the New Zealand recording artist Princess Chelsea. It was released on 1 May 2015 in New Zealand through Lil' Chief Records. The album was produced by Jonathan Bree and Chelsea Nikkel. After the release of "Lil' Golden Book", Chelsea Nikkel toured the album. Nikkel began work on her second album in October 2012. Nikkel announced the album title in May 2013. It was originally scheduled for a release in early 2014, but was rescheduled to May 2015 for unknown reasons. "The Great Cybernetic Depression" is a

title: The Great Cybernetic Depression

text: described as "rich" and "compelling" and Jonathan Bree's vocals as "deep and deliberate". The closer of the album, 'All The Stars,' is described by "The Guardian" as "beautiful and dreary." "The Guardian" said that the standout tracks are 'We're So Lost' and 'Winston Crying On The Bathroom Floor,' and Pitchfork says that 'Too Many People' is a standout track. Other critics have said that 'No Church On Sunday,' 'We Were Meant 2 B,' 'When The World Turns Grey,' and 'We Are Strangers' are standout tracks. The Great Cybernetic Depression The Great Cybernetic Depression is the second studio album by the

title: Great Depression

text: was called "The Crash", and the term "panic" has since fallen out of use. At the time of the Great Depression, the term "The Great Depression" was already used to refer to the period 1873–96 (in the United Kingdom), or more narrowly 1873–79 (in the United States), which has retroactively been renamed the Long Depression. Other economic downturns have been called a "great depression", but none had been as widespread, or lasted for so long. Various nations have experienced brief or extended periods of economic downturns, which were referred to as "depressions", but none have had such a widespread global

title: Causes of the Great Depression

text: countries condensed "trade and exchange restrictions only marginally": In a 1995 survey of American economic historians, two-thirds agreed that the Smoot-Hawley tariff act at least worsened the Great Depression. However, many economists believe that the Smoot-Hawley tariff act was not a major contributor to the great depression. Economist Paul Krugman holds that, "Where protectionism really mattered was in preventing a recovery in trade when production recovered". He cites a report by Barry Eichengreen and Douglas Irwin: Figure 1 in that report shows trade and production dropping together from 1929 to 1932, but production increasing faster than trade from 1932 to

title: Causes of the Great Depression

text: Chari, Kehoe, McGrattan also present a nice exposition that's in line with Cole-Ohanian. . This type of analysis has numerous counterarguments including the applicability of the equilibrium business cycle to the Great Depression. Causes of the Great Depression The causes of the Great Depression in the early 20th century have been extensively discussed by economists and remain a matter of active debate. They are part of the larger debate about economic crises. The specific economic events that took place during the Great Depression are well established. There was an initial stock market crash that triggered a "panic sell-off" of assets.

title: Great Depression

text: Great Depression. Additionally, Harper Lee's "To Kill a Mockingbird" is set during the Great Depression. Margaret Atwood's Booker prize-winning "The Blind Assassin" is likewise set in the Great Depression, centering on a privileged socialite's love affair with a Marxist revolutionary. The era spurred the resurgence of social realism, practiced by many who started their writing careers on relief programs, especially the Federal Writers' Project in the U.S. A number of works for younger audiences are also set during the Great Depression, among them the Kit Kittredge series of "American Girl" books written by Valerie Tripp and illustrated by Walter Rane,

text: not been any major predictions at that time which resembled a second Great Depression: "We've frightened consumers to the point where they imagine there is a good prospect of a Great Depression. That certainly is not in the prospect. No reputable forecaster is producing anything like a Great Depression." 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, the stock market had not fallen as far as it did in 1932 or 1982, the 10-year price-to-earnings ratio of

title: The Great Depression (book)

text: The Great Depression (book) The Great Depression is a book written by Canadian author Pierre Berton. The period of time between the stock market crash of 1929 and the outbreak of World War II in 1939 had a terrible impact on the lives of all Canadians. The book, "The Great Depression" is a scalding indictment of the political leaders of the time, the police, the law and of big business. While successive governments at the Federal, Provincial and Municipal level debated over how to deal with the huge numbers of unemployed workers and who would finance government works programs or

title: Great Depression

text: the recovery. It did help in reducing unemployment. The rearmament policies leading up to World War II helped stimulate the economies of Europe in 1937–39. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment. When the United States entered into the war in 1941, it finally eliminated the last effects from the Great Depression and brought the U.S. unemployment rate down below 10%. In the U.S., massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending the Depression. Businessmen

text: Comparisons between the Great Recession and the Great Depression Comparisons between the Great Recession and the Great Depression explores the experiences in the United States and the United Kingdom. On April 17, 2009, head of the IMF Dominique Strauss-Kahn said that there was a chance that certain countries may not implement the proper policies to avoid feedback mechanisms that could eventually turn the recession into a depression. "The free-fall in the global economy may be starting to abate, with a recovery emerging in 2010, but this depends crucially on the right policies being adopted today." The IMF pointed out that

title: Causes of the Great Depression

text: Causes of the Great Depression The causes of the Great Depression in the early 20th century have been extensively discussed by economists and remain a matter of active debate. They are part of the larger debate about economic crises. The specific economic events that took place during the Great Depression are well established. There was an initial stock market crash that triggered a "panic sell-off" of assets. This was followed by a deflation in asset and commodity prices, dramatic drops in demand and credit, and disruption of trade, ultimately resulting in widespread unemployment (over 13 million people were unemployed by

title: Great Depression

text: 1939. Government interference in the economy increased: "Imports were regulated, trade with foreign currency was monopolized by state-owned banks, and loan capital was largely distributed by state-regulated funds". Due to the outbreak of the Spanish Civil War, which cut Iceland's exports of saltfish by half, the Depression lasted in Iceland until the outbreak of World War II (when prices for fish exports soared). How much India was affected has been hotly debated. Historians have argued that the Great Depression slowed long-term industrial development. Apart from two sectors—jute and coal—the economy was little affected. However, there were major negative impacts on

title: Great Depression in the Netherlands

text: unemployment support sparked protest and riots in several cities in the Netherlands, most strongly in the Jordaan neighbourhood of Amsterdam. Between 4 July and 9 July the riots and subsequent harsh intervention by police and military police claimed 6 lives and wounded dozens more. The upheaval of the Great Depression can also be linked to a rise of xenophobia and the, albeit limited, success of the National Socialist Movement (NSB). Founded in 1931, the NSB gained some popularity during the depression, with a peak of support in terms of its membership in 1936. When the strength of the depression lessened

title: Great Depression in the United States

text: Great Depression in the United States The Great Depression began in August 1929, when the United States economy first went into an economic recession. Although the country spent two months with declining GDP, it was not until the Wall Street Crash in October 1929 that the effects of a declining economy were felt, and a major worldwide economic downturn ensued. The stock market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth as well as for personal advancement. Altogether, there was a general loss of confidence

title: The Great Depression of 1990

text: The Great Depression of 1990 The Great Depression of 1990 is a book by Ravi Batra in the field of economic history and future evolution, originally published in 1985. The book's original title was "Regular Cycles of Money, Inflation, Regulation and Depressions". MIT Economics Professor Lester Thurow wrote a favorable introduction for the book with its original title. Retitled, the book entered the New York Times Best Seller list in early 1987 and reached #1 later that year. The book and its sequel, Surviving the Great Depression of 1990, made Batra " "one of the best selling economists of all

title: The Great Depression (book)

text: "the dole", tens of thousands of formerly middle class Canadians suffered in abject poverty while drought seared the western prairies and an unprecedented locust epidemic contributed to record crop failures. The entire decade became known in Canadian historical parlance as "The Dirty Thirties." At the nadir of the depression, half the wage earners nationwide were on some form of relief. The book "The Great Depression" chronicles, through personal account and historical records, the events of the decade and the impact these events had on Canada and Canadian culture. Great Depression, an article about the event that inspired this book. The

title: Great Depression

text: believed they could avoid further losses by keeping clear of the markets. Holding money became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating the drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of the Great Depression is right, or the traditional Keynesian explanation

title: Great Depression

text: Hoover policy had continued, the economy would have continued its free fall in 1933, and output would have been 30% lower in 1937 than in 1933. The recession of 1937–38, which slowed down economic recovery from the Great Depression, is explained by fears of the population that the moderate tightening of the monetary and fiscal policy in 1937 would be first steps to a restoration of the pre-March 1933 policy regime. Two prominent theorists in the Austrian School on the Great Depression include Austrian economist Friedrich Hayek and American economist Murray Rothbard, who wrote "America's Great Depression" (1963). In their

title: Great Depression in the Netherlands

text: was still in its infancy. Keynesianism stresses that governments should play an active role in promoting public and private consumption during an economic depression, so a balanced government budget should only be aimed at on the long run. The Dutch government was also very reluctant to intervene in its trade policy. While most industrialised countries strongly increased their trade restrictions from the early stages of the Great Depression onward, the Dutch government still hoped for international cooperation to solve the economic crisis. Only after the failed 1933 World Economic Conference, when it became clear that countries had to solve their

title: Great Lakes Depression

text: Great Lakes Depression The Great Lakes Depression (, "Ikh Nuuruudyn Khotgor"), also called the Great Lakes' Hollow is a large semi-arid depression in Mongolia that covers parts of the Uvs, Khovd, Bayan-Ölgii, Zavkhan and Govi-Altai "aimags". Bounded by the Altai in the West, Khangai in the East and Tannu-Ola Mountains in the North, it covers the area of over with elevations from . Small northern parts of the depression are part of Russia. The depression is named so because it contains six major Mongolian lakes: saline Uvs Nuur, Khyargas Nuur and Dörgön Nuur; and freshwater Khar-Us Nuur, Khar Nuur and

title: Causes of the Great Depression

text: capitalist model. The two classical competing theories of the Great Depression are the Keynesian (demand-driven) and the monetarist explanation. There are also various heterodox theories that downplay or reject the explanations of the Keynesians and monetarists. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of the Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. Today the controversy is of lesser importance since there is mainstream support

title: Great Depression

text: into the banking system and the government should cut taxes and accelerate spending in order to keep the nominal money stock and total nominal demand from collapsing. At the beginning of the Great Depression most economists believed in Say's law and the self-equilibrating powers of the market and failed to explain the severity of the Depression. Outright leave-it-alone liquidationism was a position mainly held by the Austrian School. The liquidationist position was that a depression is good medicine. The idea was the benefit of a depression was to liquidate failed investments and businesses that have been made obsolete by technological

text: II, and was dwarfed by the 25% unemployment rate peak of the Great Depression. However, syndicated columnist and former Assistant Secretary of the Treasury Paul Craig Roberts claimed in a 2012 column that if all discouraged workers were included in U.S. unemployment statistics, the actual unemployment rate would be 22%, comparable to rates during the Great Depression. Nobel Prize–winning economist Paul Krugman predicted a series of depressions in his "The Return of Depression Economics" (1999), based on "failures on the demand side of the economy." On January 5, 2009, he wrote that "preventing depressions isn't that easy after all" and

title: Great Depression in India

text: Great Depression in India The Great Depression of 1929 had a very severe impact on India, which was then under the rule of the British Raj. How much India was affected has been hotly debated. Nationalist historians have argued that the Great Depression slowed long-term industrial development. Outside scholars argue that depression had only a small impact in India's modern secondary sector: in terms of output, there was no depression in India between 1929 and 1934. However there were negative impacts on the jute industry, as world demand fell and prices plunged. Local markets in agriculture and small-scale industry showed

title: Great Lakes Depression

text: and bar-headed goose ("Anser indicus"). Only a few individuals of great white pelican ("Pelecanus onocrotalus") remain in the Great Lakes Basin in Mongolia. They nest in catchment areas of rivers and lakes that have abundant fish and vegetation. Although the total number of fish species in the region is low, a large percentage of those that do occur are endemic or near-endemic, especially from the genera "Oreoleuciscus" (Altai osmans), "Thymallus" (graylings) and "Triplophysa" (a stone loach genus). Great Lakes Depression The Great Lakes Depression (, "Ikh Nuuruudyn Khotgor"), also called the Great Lakes' Hollow is a large semi-arid depression in

title: Great Depression

text: approved regulations and created or improved welfare institutions that helped millions of new industrial workers to achieve a better standard of living. From roughly 1931 to 1937, the Netherlands suffered a deep and exceptionally long depression. This depression was partly caused by the after-effects of the Stock Market Crash of 1929 in the U.S., and partly by internal factors in the Netherlands. Government policy, especially the very late dropping of the Gold Standard, played a role in prolonging the depression. The Great Depression in the Netherlands led to some political instability and riots, and can be linked to the rise

title: Great Depression in India

text: of 1930 was one of the measures undertaken as a response to heavy taxation during the Great Depression. The Great Depression and the economic policies of the Government of British India worsened already deteriorating Indo-British relations. When the first general elections were held according to the Government of India Act 1935, anti-British feelings resulted in the pro-independence Indian National Congress winning in most provinces with a very high percentage of the vote share. Indian economy had been largely agricultural before and during the rule of the British. However, during British rule, there was a major shift from the growth of

title: The Great Depression: America, 1929–1941

text: The Great Depression: America, 1929–1941 The Great Depression: America, 1929–1941 () is a 1984 history of the Great Depression by acclaimed historian Robert S. McElvaine. In this interpretive history, McElvaine discusses the causes and the results of the worst depression in American history, covering the time from 1929 to 1941. He examines the causes of this cataclysmic event, its impact upon the American people, and the political, governmental, and cultural responses to it. He comes down firmly in favor of the "demand-side" argument that maldistribution of income in the 1920s having left the bulk of potential consumers with too small

text: by Three Rivers, an imprint of Crown Publishing, late in 2009. The Great Depression: America, 1929–1941 The Great Depression: America, 1929–1941 () is a 1984 history of the Great Depression by acclaimed historian Robert S. McElvaine. In this interpretive history, McElvaine discusses the causes and the results of the worst depression in American history, covering the time from 1929 to 1941. He examines the causes of this cataclysmic event, its impact upon the American people, and the political, governmental, and cultural responses to it. He comes down firmly in favor of the "demand-side" argument that maldistribution of income in the

title: Causes of the Great Depression

text: representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again."<br> — Ben S. Bernanke After the Depression, the primary explanations of it tended to ignore the importance of the money supply. However, in the monetarist view, the Depression was "in fact a tragic testimonial to the importance of monetary forces." In their view, the failure of the Federal Reserve to deal with the Depression was not a sign that monetary policy was impotent, but that

title: Causes of the Great Depression

text: time he kept Andrew Mellon as Secretary of the Treasury until February 1932. It was during 1932 that Hoover began to support more aggressive measures to combat the Depression. In his memoirs, President Hoover wrote bitterly about members of his Cabinet who had advised inaction during the downslide into the Great Depression: Before the "Keynesian Revolution", such a liquidationist theory was a common position for economists to take and was held and advanced by economists like Friedrich Hayek, Lionel Robbins Joseph Schumpeter, Seymour Harris and others. According to the liquidationists a depression is good medicine. The function of a depression

title: Great Depression in India

text: Dandi in Gujarat, where they illegally manufactured salt and defied the Government monopoly on salt. Subsequently, similar satyagrahas were organized at Dharasana and Vedaranyam. The Government responded with a massive roundup, but by then, the march and the media coverage had radically moulded international opinion. Great Depression in India The Great Depression of 1929 had a very severe impact on India, which was then under the rule of the British Raj. How much India was affected has been hotly debated. Nationalist historians have argued that the Great Depression slowed long-term industrial development. Outside scholars argue that depression had only a

title: Great Depression

text: became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday). Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries the negative effects of the Great Depression lasted until the beginning of World War II. The Great Depression had devastating effects in countries both rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more

title: Great Depression

text: 0.63%. The depression was relatively mild: unemployment peaked under 5%, the fall in production was at most 20% below the 1929 output; there was no banking crisis. However, the depression had drastic effects on the local economy, and partly explains the February 6, 1934 riots and even more the formation of the Popular Front, led by SFIO socialist leader Léon Blum, which won the elections in 1936. Ultra-nationalist groups also saw increased popularity, although democracy prevailed into World War II. France's relatively high degree of self-sufficiency meant the damage was considerably less than in nations like Germany. The Great Depression

title: Great Depression

text: to shape such consumption as economic self-sufficiency was needed to prepare for and to sustain the coming war. The organizations, propaganda agencies and authorities employed slogans that called up traditional values of thrift and healthy living. However, these efforts were only partly successful in changing the behavior of housewives. The common view among economic historians is that the Great Depression ended with the advent of World War II. Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in

title: Great Depression in the Netherlands

text: was unable to structurally improve the situation. As most other countries the Netherlands experienced significant social unrest during the Great Depression. But except for a number of impressive events this unrest was actually quite limited in scale. Statistics of labour strikes for example show that during the 1931-1937 period strikes were actually less common in the Netherlands than in the previous years of economic stability from 1925 to 1930. At the height of the Great Depression in the Netherlands the number of strikes was lowest. [4] Another form of protest was rentstriking, the refusal by a tenant to pay rent

title: The Great Depression (Blindside album)

text: he had seen Yemkela (who Christian expected would be dead) at a show in Cape Town. To Christian's surprise, he was doing well and watched Blindside perform his song and sang along. This Performance was released on a documentary packaged with Blindside's 2011 album "With Shivering Hearts We Wait." The Great Depression (Blindside album) The Great Depression is the fifth album from post-hardcore band Blindside. It is their first album for DRT Entertainment. The album was largely influenced by a trip to Africa that their lead singer, Christian, had undertaken. He was very unsettled by his experience and the things

title: Great Depression

text: transactions, while other countries condensed "trade and exchange restrictions only marginally": The consensus view among economists and economic historians is that the passage of the Smoot-Hawley Tariff exacerbated the Great Depression, although there is disagreement as to how much. In the popular view, the Smoot-Hawley Tariff was a leading cause of the depression. However, many economists hold the opinion that the tariff act did not greatly worsen the depression. The financial crisis escalated out of control in mid-1931, starting with the collapse of the Credit Anstalt in Vienna in May. This put heavy pressure on Germany, which was already in

text: between rising inequality within Western economies and deflating demand may exist. The last time that the wealth gap reached such skewed extremes was in 1928-1929. Although some casual comparisons between the Great Recession and the Great Depression have been made, there remain large differences between the two events. Actually, if the magnitude of initial shocks was the same in both cases, the recovery from the latest one would be earlier. The consensus among economists in March 2009 was that a depression was not likely to occur. UCLA Anderson Forecast director Edward Leamer said on March 25, 2009 that there had

title: The Great Depression (DMX album)

text: The Great Depression (DMX album) The Great Depression is the fourth studio album by American rapper DMX. The album was released October 23, 2001, by Ruff Ryders Entertainment and Def Jam Recordings. It was DMX's fourth consecutive album to debut at number one on the "Billboard" 200 chart. 440,000 copies were sold within the first week of the album's release, and it was certified Platinum in December of that year. The album demonstrated his continually strong allegiance with the Ruff Ryders with singles such as "Who We Be" and "We Right Here". The album debuted at number one on the

title: The Great Depression (DMX album)

text: "Billboard" 200 chart, with first-week sales of 440,000 copies in the United States. The Great Depression (DMX album) The Great Depression is the fourth studio album by American rapper DMX. The album was released October 23, 2001, by Ruff Ryders Entertainment and Def Jam Recordings. It was DMX's fourth consecutive album to debut at number one on the "Billboard" 200 chart. 440,000 copies were sold within the first week of the album's release, and it was certified Platinum in December of that year. The album demonstrated his continually strong allegiance with the Ruff Ryders with singles such as "Who We

title: The Great Depression (Blindside album)

text: The Great Depression (Blindside album) The Great Depression is the fifth album from post-hardcore band Blindside. It is their first album for DRT Entertainment. The album was largely influenced by a trip to Africa that their lead singer, Christian, had undertaken. He was very unsettled by his experience and the things he saw influenced the album immensely. The song "Yemkela" was written about a young African boy he met on his trip. The boy had HIV and had less than two months to live. However, in a recent interview, Christian Lindskog revealed that on a recent tour in South Africa,

title: Great Depression in the United States

text: government dealt with economic downturns, such as the use of stimulus packages, Keynesian economics, and Social Security. It also shaped modern American literature, resulting in famous novels such as John Steinbeck's "The Grapes of Wrath" and "Of Mice and Men". 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. Many banks began to fail in October 1930 when farmers defaulted on loans.

title: Causes of the Great Depression

text: have been 30 percent lower in 1937 than in 1933. The recession of 1937–38, which slowed down economic recovery from the great depression, is explained by fears of the population that the moderate tightening of the monetary and fiscal policy in 1937 would be first steps to a restoration of the pre March 1933 policy regime. Austrian economists argue that the Great Depression was the inevitable outcome of the monetary policies of the Federal Reserve during the 1920s. In their opinion, the central bank's policy was an "easy credit policy" which led to an unsustainable credit-driven boom. In the Austrian

title: Great Depression

text: standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries. This partly explains why the experience and length of the depression differed between national economies. Many economists have argued that the sharp decline in international trade after 1930 helped to worsen the depression, especially for countries significantly dependent on foreign trade. In a 1995 survey of American economic historians, two-thirds agreed that the Smoot–Hawley Tariff Act at least worsened the Great Depression. Most historians and economists partly

title: The Great Depression of 1990

text: literature. Third, the reliance on Sarkar's philosophy led to imprecise terminology that prevented a coherent theory. Armstrong concluded that while some recommendations of the book were sensible, others were "potentially dangerous" and the conclusions drawn by the author were not supported by the text. "New York Times" reporter Thomas C. Hayes noted Batra's "penchant for sweeping generalizations, factual errors and other missteps" and that despite impressive sales, "many academic and business economists have ignored the book". The book was generally ignored after its key prediction failed to materialize in the 1990s. The Great Depression of 1990 The Great Depression of

title: Causes of the Great Depression

text: "ambivalent": "At that time I believed that a process of deflation of some short duration might break the rigidity of wages which I thought was incompatible with a functioning economy." 1979 Hayek strongly criticized the Fed's contractionary monetary policy early in the Depression and its failure to offer banks liquidity: Historians gave Hoover credit for working tirelessly to combat the depression and noted that he left government prematurely aged. But his policies are rated as simply not far-reaching enough to address the Great Depression. He was prepared to do something, but nowhere near enough. Hoover was no exponent of laissez-faire.

text: unlike the Great Depression, this recession was synchronized by global integration of markets. Such synchronized recessions were explained to last longer than typical economic downturns and have slower recoveries. The chief economist of the IMF, Dr. Olivier Blanchard, stated that the percentage of workers laid off for long stints has been rising with each downturn for decades but the figures have surged this time. "Long-term unemployment is alarmingly high: in the US, half the unemployed have been out of work for over six months, something we have not seen since the Great Depression." The IMF also stated that a link

title: Great Depression in Chile

text: 1930s the massive industrial growth was spearheaded by the textile industry, but non-metallic mining, chemical industries and machine and transport factories did also expand. Overall industry recovered and expanded faster than the traditional exports in the post depression period. Bibliography Great Depression in Chile The Great Depression that begun 1929 was felt strongly in Chile from 1930 to 1932. Saltpetre and copper exports collapsed. The World Economic Survey of the League of Nations declared Chile the worst affected nation by the depression. The crisis caused the authoritarian regime of Carlos Ibáñez del Campo to fall in July 1931 followed by

title: Hard Times: An Oral History of the Great Depression

text: of socio-economic status. It has been called "A true classic! Exceptional oral history of a wide strata of Americans caught up in the 'hard times' of the Great Depression." Hard Times: An Oral History of the Great Depression Hard Times: An Oral History of the Great Depression (original: 1970/ latest edition: 2005) is a telling of the oral history of the Great Depression written by Studs Terkel. It is a firsthand account of people of varying socio-economic status who lived in the United States during the Great Depression. The first edition of the book was published in 1970. The 1986

title: 1998–2002 Argentine great depression

text: 1998–2002 Argentine great depression The 1998–2002 Argentine Great Depression was an economic depression in Argentina, which began in the third quarter of 1998 and lasted until the second quarter of 2002. It almost immediately followed the 1974–1990 Great Depression after a brief period of rapid economic growth. The depression, which began after the Russian and Brazilian financial crises, caused widespread unemployment, riots, the fall of the government, a default on the country's foreign debt, the rise of alternative currencies and the end of the peso's fixed exchange rate to the US dollar. The economy shrank by 28 percent from 1998

title: Great Depression

text: a bipartisan conservative coalition to stop further expansion of the New Deal and, when unemployment dropped to 2% in the early 1940s, they abolished WPA, CCC and the PWA relief programs. Social Security remained in place. Between 1933 and 1939, federal expenditure tripled, and Roosevelt's critics charged that he was turning America into a socialist state. The Great Depression was a main factor in the implementation of social democracy and planned economies in European countries after World War II (see Marshall Plan). Keynesianism generally remained the most influential economic school in the United States and in parts of Europe until

title: Great Depression in Central Europe

text: causing a financial panic across Europe. Great Depression in Central Europe The Great Depression severely affected Central Europe. The unemployment rate in Germany, Austria and Poland rose to 20% while output fell by 40%. By November 1949, every European country had increased tariffs or introduced import quotas. Under the Dawes Plan, the German economy boomed in the 1920s, paying reparations and increasing domestic production. Germany's economy retracted in 1929 when Congress discontinued the Dawes Plan loans. This was not just a problem for Germany. Europe received almost $8 billion USD in American credit between 1924 and 1930 in addition to

title: Great Depression in Central Europe

text: Great Depression in Central Europe The Great Depression severely affected Central Europe. The unemployment rate in Germany, Austria and Poland rose to 20% while output fell by 40%. By November 1949, every European country had increased tariffs or introduced import quotas. Under the Dawes Plan, the German economy boomed in the 1920s, paying reparations and increasing domestic production. Germany's economy retracted in 1929 when Congress discontinued the Dawes Plan loans. This was not just a problem for Germany. Europe received almost $8 billion USD in American credit between 1924 and 1930 in addition to previous war time loans. Germany's Weimar

title: Great Depression

text: Black Tuesday. However, some dispute this conclusion and see the stock crash as a symptom, rather than a cause, of the Great Depression. Even after the Wall Street Crash of 1929 optimism persisted for some time. John D. Rockefeller said "These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." The stock market turned upward in early 1930, returning to early 1929 levels by April. This was still almost 30% below the peak of September 1929. Together, government and business spent more in the

title: Causes of the Great Depression

text: banking system and the government should cut taxes and accelerate spending in order to keep the nominal money stock and total nominal demand from collapsing. The United States government and the Federal Reserve did not do that during the 1929‑32 slide into the Great Depression The existence of "liquidationism" played a key part in motivating public policy decisions not to fight the gathering Great Depression. An increasingly common view among economic historians is that the adherence of some Federal Reserve policymakers to the liquidationist thesis led to disastrous consequences. Regarding the policies of President Hoover, economists Barry Eichengreen and J.

title: Causes of the Great Depression

text: those who borrow to owe ever more in real terms. There are also several various heterodox theories that reject the explanations of the Keynesians and monetarists. Some new classical macroeconomists have argued that various labor market policies imposed at the start caused the length and severity of the Great Depression. The Austrian school of economics focuses on the macroeconomic effects of money supply and how central banking decisions can lead to malinvestment. Marxist economists view the Great Depression, with all other economic crises, as a symptom of the cyclical nature of capitalism and the instability that is inherent in the

title: Causes of the Great Depression

text: many people believed they could avoid further losses by keeping clear of the markets. Holding money therefore became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating the drop in demand. Second, there are the monetarists, who believe that the Great Depression started as an ordinary recession, but that significant policy mistakes by monetary authorities (especially the Federal Reserve) caused a shrinking of the money supply which greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Related to this explanation are those who point to debt deflation causing

title: Great Depression in the United States

text: income in excess of $100,000 to 63% on taxable income in excess of $1 million as the rates were made much more progressive. Hoover changed his approach to fighting the Depression. He justified his call for more federal assistance by noting that "We used such emergency powers to win the war; we can use them to fight the Depression, the misery, and suffering from which are equally great." This new approach embraced a number of initiatives. Unfortunately for the President, none proved especially effective. Just as important, with the presidential election approaching, the political heat generated by the Great Depression

text: of analysis that has a good deal of contemporary relevance." The book was among the first to use popular culture, especially film, as an important resource in understanding the mood of a time. The book has stayed constantly in print since its publication. A second edition was published in 1993, coinciding with the eight-part PBS television series, "The Great Depression", for which this book was a major resource. A 25th-anniversary edition, with a comprehensive new introduction comparing the circumstances leading up to the financial collapse of 2008 with those in the 1920s that led to the Great Depression, was published

title: Great Depression

text: to suffer comparatively little, averaging an average growth rate of 3.5% from 1932 to 1939. The dictatorial regime of Ioannis Metaxas took over the Greek government in 1936, and economic growth was strong in the years leading up to the Second World War. Icelandic post-World War I prosperity came to an end with the outbreak of the Great Depression. The Depression hit Iceland hard as the value of exports plummeted. The total value of Icelandic exports fell from 74 million kronur in 1929 to 48 million in 1932, and was not to rise again to the pre-1930 level until after

title: Great Depression in Canada

text: an expansion of infrastructure and education during the 1920s. It thus fell to the federal government to try to improve the economy. When the Depression began Mackenzie King was Prime Minister. He believed that the crisis would pass, refused to provide federal aid to the provinces, and only introduced moderate relief efforts. The government's reaction to The Great Depression is the focus of the 2013 documentary Catch The Westbound Train from Prairie Coast Films. The Bennett Government, which defeated Mackenzie King in the 1930 election, initially refused to offer large-scale aid or relief to the provinces, much to the anger

text: Hard Times: An Oral History of the Great Depression Hard Times: An Oral History of the Great Depression (original: 1970/ latest edition: 2005) is a telling of the oral history of the Great Depression written by Studs Terkel. It is a firsthand account of people of varying socio-economic status who lived in the United States during the Great Depression. The first edition of the book was published in 1970. The 1986 print included a new introduction by Terkel. The latest edition was published in 2005. "Hard Times" is known for providing an equal representation of experiences across a broad spectrum

title: Great Depression in the Netherlands

text: the Netherlands. As in most other affected countries, the end of the Great Depression in the Netherlands was gradual, but in the Netherlands, recovery did not start before 1936, when the country abandoned the gold standard. By 1933, only a few European states still remained with the gold standard, while among others the United Kingdom and the United States had abandoned it. By cooperating in international negotiation as a "gold bloc" and lowering trade restrictions among themselves these states tried to survive harsh foreign competition without accepting currency devaluation. Internal trade failed to solve their problems, however, and by 1935

title: Great Depression

text: pick up the slack by increasing government spending and/or cutting taxes. As the Depression wore on, Franklin D. Roosevelt tried public works, farm subsidies, and other devices to restart the U.S. economy, but never completely gave up trying to balance the budget. According to the Keynesians, this improved the economy, but Roosevelt never spent enough to bring the economy out of recession until the start of World War II. Monetarists follow the explanation given by Milton Friedman and Anna J. Schwartz. They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to

title: Great Depression

text: gold standard in April, 1932 and declared a moratorium on all interest payments. The country also adopted protectionist policies such as import quotas, which a number of European countries did during the time period. Protectionist policies coupled with a weak drachma, stifling imports, allowed Greek industry to expand during the Great Depression. In 1939, Greek Industrial output was 179% that of 1928. These industries were for the most part "built on sand" as one report of the Bank of Greece put it, as without massive protection they would not have been able to survive. Despite the global depression, Greece managed

title: Great Depression in Canada

text: cultural and financial recovery of the Canadian economy during the Great depression. It took the outbreak of World War II to pull Canada out of the depression. From 1939, an increased demand in Europe for materials, and increased spending by the Canadian government created a strong boost for the economy. Unemployed men enlisted in the military. By 1939, Canada was in the first prosperity period in the business cycle in a decade. This coincided with the recovery in the American economy, which created a better market for exports and a new inflow of much needed capital. Great Depression in Canada

title: Great Depression in Chile

text: Great Depression in Chile The Great Depression that begun 1929 was felt strongly in Chile from 1930 to 1932. Saltpetre and copper exports collapsed. The World Economic Survey of the League of Nations declared Chile the worst affected nation by the depression. The crisis caused the authoritarian regime of Carlos Ibáñez del Campo to fall in July 1931 followed by a succession of short-lived governments until the election of Arturo Alessandri in December 1932. The economic crisis rose the levels of unemployment and caused a migration of unemployed saltpetre miners from the north to Santiago. Miners constituted around 6% of

title: Causes of the Great Depression

text: of the Great Depression by economists Paul R. Flacco and Randall E. Parker. Economist Ludwig Lachmann argues that it was pessimism that prevented the recovery and worsening of the depression President Hoover is said to have been blinded from what was right in front of him. Economist James Deusenberry argues economic imbalance was not only a result of World War I, but also of the structural changes made during the first quarter of the Twentieth Century. He also states the branches of the nation's economy became smaller, there was not much demand for housing, and the stock market crash "had

title: Great Depression in the Netherlands

text: after 1937 support for the NSB fell again. An important difference between the Great Depression in the Netherlands and the situation in most other affected countries was the role of the government. Until the late 1930s the Dutch government, headed from 1933 to 1939 by the Anti-Revolutionary statesman Hendrik Colijn, could be described as non-interventionist and strongly internationalist. Its economic policy focussed mainly on keeping a balanced budget for government spending and income. While this government policy was typical for contemporary European and American governments, it was applied especially strictly in the Netherlands until the late stages of the depression.