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1973–1975 Recession
The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high inflation existed simultaneously. United States Among the causes were the 1973 oil crisis, the deficits of the Vietnam War under President Johnson, and the fall of the Bretton Woods system after the Nixon Shock. The emergence of newly industrialized countries increased competition in the metal industry, triggering a steel crisis, where industrial core areas in North America and Europe were forced to re-structure. The 1973–74 stock market crash made the recession evident. The recession in the United States lasted from November 1973 (the Richard Nixon presidency) to March 1975 (the Gerald Ford presidency), and its effects on the US were felt through the Jimmy Carter presidency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US 1970s Unemployment
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal district, five major unincorporated territories, nine United States Minor Outlying Islands, Minor Outlying Islands, and 326 Indian reservations. The United States is also in Compact of Free Association, free association with three Oceania, Pacific Island Sovereign state, sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Palau, Republic of Palau. It is the world's List of countries and dependencies by area, third-largest country by both land and total area. It shares land borders Canada–United States border, with Canada to its north and Mexico–United States border, with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald Ford
Gerald Rudolph Ford Jr. ( ; born Leslie Lynch King Jr.; July 14, 1913December 26, 2006) was an American politician who served as the 38th president of the United States from 1974 to 1977. He was the only president never to have been elected to the office of president or vice president as well as the only president to date from Michigan. He previously served as the leader of the Republican Party in the House of Representatives, and was appointed to be the 40th vice president in 1973. When President Richard Nixon resigned in 1974, Ford succeeded to the presidency, but was defeated for election to a full term in 1976. Born in Omaha, Nebraska, and raised in Grand Rapids, Michigan, Ford attended the University of Michigan, where he was a member of the school's football team, winning two national championships. Following his senior year, he turned down offers from the Detroit Lions and Green Bay Packers, instead opting to go to Yale Law School. After the attack on Pearl Harbor, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uk Inflation History
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 1707 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward Heath
Sir Edward Richard George Heath (9 July 191617 July 2005), often known as Ted Heath, was a British politician who served as Prime Minister of the United Kingdom from 1970 to 1974 and Leader of the Conservative Party (UK), Leader of the Conservative Party from 1965 to 1975. Heath also served for 51 years as a Member of Parliament (United Kingdom), Member of Parliament from 1950 to 2001. Outside politics, Heath was a yachtsman, a musician, and an author. Born to a lady's maid and a carpenter, Heath was educated at a grammar school in Ramsgate, Kent (Chatham House Grammar School for boys) and became a leader within student politics while studying at the University of Oxford. He served as an officer in the Royal Artillery during the Second World War. He worked briefly in the Civil Service (United Kingdom), Civil Service, but resigned in order to stand for Parliament, and was elected for Bexley (UK Parliament constituency), Bexley at the 1950 United Kingdom general election, 1950 el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conservative Party (UK)
The Conservative Party, officially the Conservative and Unionist Party and also known colloquially as the Tories, is one of the Two-party system, two main political parties in the United Kingdom, along with the Labour Party (UK), Labour Party. It is the current Government of the United Kingdom, governing party, having won the 2019 United Kingdom general election, 2019 general election. It has been the primary governing party in Britain since 2010. The party is on the Centre-right politics, centre-right of the political spectrum, and encompasses various ideological #Party factions, factions including One-nation conservatism, one-nation conservatives, Thatcherism, Thatcherites, and traditionalist conservatism, traditionalist conservatives. The party currently has 356 Member of Parliament (United Kingdom), Members of Parliament, 264 members of the House of Lords, 9 members of the London Assembly, 31 members of the Scottish Parliament, 16 members of the Senedd, Welsh Parliament, 2 D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Three-Day Week
The Three-Day Week was one of several measures introduced in the United Kingdom in 1973–1974 by Edward Heath's Conservative government to conserve electricity, the generation of which was severely restricted owing to industrial action by coal miners and railway workers. From 1 January 1974, commercial users of electricity were limited to three specified consecutive days' consumption each week and prohibited from working longer hours on those days. Services deemed essential (e.g. hospitals, supermarkets and newspaper printing presses) were exempt. Television companies were required to cease broadcasting at 22:30 to conserve electricity, although this restriction was dropped after a general election was called. The Three-Day Week restrictions were lifted on 7 March 1974. Background Throughout the 1970s the British economy was troubled by high rates of inflation. To tackle this, the government capped public sector pay rises and publicly promoted a clear capped level to the priva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Recession
The COVID-19 recession, also referred to as the Great Lockdown, is a global recession, global economic recession caused by the COVID-19 pandemic. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis. Within seven months, every advanced economy had fallen to recession. The first major sign of recession was the 2020 stock market crash, which saw major indices drop 20 to 30% in late February and March. Recovery began in early April 2020; by April 2022, the GDP for most major economies had either returned to or exceeded pre-pandemic levels and many market indices recovered or even set new records by late 2020. The recession saw unusually high and rapid increases in unemployment in many countries. By October 2020, more than 10 million unemployment cases had been filed in the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. 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. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Early 1980s Recession
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1983. It is widely considered to have been the most severe recession since World War II. A key event leading to the recession was the 1979 energy crisis, mostly caused by the Iranian Revolution which caused a disruption to the global oil supply, which saw oil prices rising sharply in 1979 and early 1980. The sharp rise in oil prices pushed the already high rates of inflation in several major advanced countries to new double-digit highs, with countries such as the United States, Canada, West Germany, Italy, the United Kingdom and Japan tightening their monetary policies by increasing interest rates in order to control the inflation. These G7 countries each, in fact, had " double-dip" recessions involving short declines in economic output in parts of 1980 followed by a short period of expansion, in turn, followed by a steeper, longer period of econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Late 2000s Recession
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of Labor Statistics
The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System. The BLS collects, processes, analyzes, and disseminates essential statistical data to the American public, the U.S. Congress, other Federal agencies, State and local governments, business, and labor representatives. The BLS also serves as a statistical resource to the United States Department of Labor, and conducts research measuring the income levels families need to maintain a satisfactory quality of life. BLS data must satisfy a number of criteria, including relevance to current social and economic issues, timeliness in reflecting today's rapidly changing economic conditions, accuracy and consistently high statistical quality, impartiality in both subject matter and presentation, and accessibility t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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