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Economic depression. An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. Economic depression may be related to one specific country where there is some economic crisis that has worsened but most often reflexes historically the American ...
In the United States, the Great Depression began with the Wall Street Crash of October 1929 and then spread worldwide. The nadir came in 1931–1933, and recovery came in 1940. 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 ...
The Great Depression (1929–1939) was a severe global economic downturn that affected many countries across the world. It became evident after a sharp decline in stock prices in the United States, the largest economy in the world at the time, leading to a period of economic depression. [ 1] The economic contagion began around September 1929 ...
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 ...
Keynesian economics, as part of the neoclassical synthesis, served as the standard macroeconomic model in the developed nations during the later part of the Great Depression, World War II, and the post-war economic expansion (1945–1973). It was developed in part to attempt to explain the Great Depression and to help economists understand ...
Panic of 1893. Drawing in Frank Leslie's of panicked stockbrokers on May 9, 1893. The Panic of 1893 was an economic depression in the United States that began in 1893 and ended in 1897. [1] It deeply affected every sector of the economy and produced political upheaval that led to the political realignment of 1896 and the presidency of William ...
A recession is commonly defined as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales", [ 3][ 4][ 5] or as "a negative economic growth for two consecutive quarters."
The Depression of 1882–1885, or Recession of 1882–1885, was an economic contraction in the United States that lasted from March 1882 to May 1885, according to the National Bureau of Economic Research. Lasting 38 months, it was the third-longest recession in the NBER's chronology of business cycles since 1854.