Great Depression in the United States: Difference between revisions
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==The early 1920s== | ==The early 1920s== | ||
<ref name=Friedman> Milton Friedman and Anna Schwartz ''A Monetary History of the United States 1867-1960'' (p. 289), Princeton University Press for NBER, 1963</ref> | The severest bout of deflation ever experienced in the United States was not during the Great Depression, but a decade earlier in 1920-21 when wholesale prices fell by 56% in a little over a year | ||
<ref name=Friedman> Milton Friedman and Anna Schwartz ''A Monetary History of the United States 1867-1960'' (p. 289), Princeton University Press for NBER, 1963</ref> | |||
<ref>[http://mises.org/journals/qjae/pdf/qjae8_1_7.pdf Allan Meltzer: ''A History Of The Federal Reserve'', Volume I: 1913–51, University Of Chicago Press, 2003]</ref>. | <ref name=Meltzer>[http://mises.org/journals/qjae/pdf/qjae8_1_7.pdf Allan Meltzer: ''A History Of The Federal Reserve'', Volume I: 1913–51, University Of Chicago Press, 2003]</ref>. | ||
<ref> Peter Temin ''Did Monetary Forces Cause the Great Depression'', W W Norton, 1976</ref> | <ref name=Temin> Peter Temin ''Did Monetary Forces Cause the Great Depression'', W W Norton, 1976</ref> | ||
<ref>[http://en.citizendium.org/wiki?title=Great_Depression_in_the_United_States&action=edit ''Business Cycles and Unemployment'', Report and Recommendations of a Committee of the President's Conference on Unemployment, McGraw Hill, 1923]</ref> | |||
There was nothing unexpected about the later turndown in the economy, on the contrary, by the time it happened a great deal of thought had been put into how to deal with it when it came. | |||
<ref name=Hoover>[http://en.citizendium.org/wiki?title=Great_Depression_in_the_United_States&action=edit ''Business Cycles and Unemployment'', Report and Recommendations of a Committee of the President's Conference on Unemployment, McGraw Hill, 1923]</ref> | |||
<ref>[http://www.ssa.gov/history/briefhistory3.html ''Historical Background and Development of Social Security'', Social Security Administration 2008]</ref> | <ref>[http://www.ssa.gov/history/briefhistory3.html ''Historical Background and Development of Social Security'', Social Security Administration 2008]</ref> | ||
Revision as of 08:27, 9 February 2009
Links and subpages
- For an annotated chronology of the main events, see the Timelines subpage;
- for an article about events in the United States and elsewhere, see the article on the Great Depression;
- for a summary of the relevant economic statistics, see the Tutorials subpage;
- for definitions of terms shown in italics see the Glossary.
Overview
The early 1920s
The severest bout of deflation ever experienced in the United States was not during the Great Depression, but a decade earlier in 1920-21 when wholesale prices fell by 56% in a little over a year
[1]
[2].
There was nothing unexpected about the later turndown in the economy, on the contrary, by the time it happened a great deal of thought had been put into how to deal with it when it came.
Boom
Slump
Rescue
References
- ↑ Milton Friedman and Anna Schwartz A Monetary History of the United States 1867-1960 (p. 289), Princeton University Press for NBER, 1963
- ↑ Allan Meltzer: A History Of The Federal Reserve, Volume I: 1913–51, University Of Chicago Press, 2003
- ↑ Peter Temin Did Monetary Forces Cause the Great Depression, W W Norton, 1976
- ↑ Business Cycles and Unemployment, Report and Recommendations of a Committee of the President's Conference on Unemployment, McGraw Hill, 1923
- ↑ Historical Background and Development of Social Security, Social Security Administration 2008
- ↑ John Kenneth Galbraith The Great Crash 1929, Penguin Books 1992