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American Great Depression
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 growth as well as for personal advancement. Altogether, there was a general loss of confidence in the economic future. The usual explanations include numerous factors, especially high consumer debt, ill-regulated markets that permitted overoptimistic loans by banks and investors, and the lack of high-growth new industries. These all interacted to create a downward economic spiral of reduced spending, falling confidence and lowered production. Industries that suffered the most included construction, shipping, mining, logging, and agriculture. Also hard hit was the manufacturing of durable goods like automobiles and appliances, whose purcha ...
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Migrant Mother
''Migrant Mother'' is a photograph taken in 1936 in Nipomo, California by American photographer Dorothea Lange during her spell at the Resettlement Administration (later the Farm Security Administration). Since then, the photograph has become an icon of the Great Depression and because it is in the public domain, it has been reproduced to serve as advertisements and much more. Today, Lange's work is considered to be a part of the classic canon of American art and international photography. The 28.3 by 21.8 cm (11 1/8 by 8 9/16 in) gelatin silver print photograph depicts two children burying their faces in their mother who anxiously gazes off into the distance. A print is housed at the Museum of Modern Art in New York City. Description ''Migrant Mother'' depicts a mother looking off into the distance with two of her children at her sides and an infant in her lap. Her children's faces are not shown as the children both bury their faces in their mother's shoulders. The black and ...
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History Of The United States
The history of the lands that became the United States began with the arrival of the first people in the Americas around 15,000 BC. Numerous indigenous cultures formed, and many saw transformations in the 16th century away from more densely populated lifestyles and towards reorganized polities elsewhere. The European colonization of the Americas began in the late 15th century, however most colonies in what would later become the United States were settled after 1600. By the 1760s, the thirteen British colonies contained 2.5 million people and were established along the Atlantic Coast east of the Appalachian Mountains. After defeating France, the British government imposed a series of taxes, including the Stamp Act of 1765, rejecting the colonists' constitutional argument that new taxes needed their approval. Resistance to these taxes, especially the Boston Tea Party in 1773, led to Parliament issuing punitive laws designed to end self-government. Armed conflict bega ...
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Conservatism In The United States
Conservatism in the United States is a political and social philosophy based on a belief in limited government, individualism, traditionalism, republicanism, and limited federal governmental power in relation to U.S. states. Conservative and Christian media organizations, along with American conservative figures, are influential, and American conservatism is one of the majority political ideologies within the Republican Party. American social conservatives typically support what they consider Christian values, moral absolutism, traditional family values, and American exceptionalism, while opposing abortion, euthanasia, and same-sex marriage. It favours economic individualism, and is generally pro-business and pro-capitalism, while supporting anti-communism and opposing labor unions. It often advocates a strong national defense, gun rights, free trade, and a defense of Western culture from perceived threats posed by both communism and moral relativism. Since the ...
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Modern Liberalism In The United States
Modern liberalism in the United States, often simply referred to in the United States as liberalism, is a form of social liberalism found in American politics. It combines ideas of civil liberty and equality with support for social justice and a "checked-and-validated" market economy. Economically, modern liberalism opposes cuts to the social safety net and supports a role for government in reducing inequality, providing education, ensuring access to healthcare, regulating economic activity and protecting the natural environment. This form of liberalism took shape in the 20th century United States as the voting franchise and other civil rights were extended to a larger class of citizens. Major examples of modern liberal policy programs include the New Deal, the Fair Deal, the New Frontier, and the Great Society. In the first half of the 20th century, both major American parties had a conservative and a liberal wing. The conservative northern Republicans and Southern D ...
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Franklin Delano Roosevelt
Franklin Delano Roosevelt (; ; January 30, 1882April 12, 1945), often referred to by his initials FDR, was an American politician and attorney who served as the 32nd president of the United States from 1933 until his death in 1945. As the leader of the Democratic Party, he won a record four presidential elections and became a central figure in world events during the first half of the 20th century. Roosevelt directed the federal government during most of the Great Depression, implementing his New Deal domestic agenda in response to the worst economic crisis in U.S. history. He built the New Deal Coalition, which defined modern liberalism in the United States throughout the middle third of the 20th century. His third and fourth terms were dominated by World War II, which ended in victory shortly after he died in office. Born into the prominent Roosevelt family in Hyde Park, New York, he graduated from both Groton School and Harvard College, and attended Columbia Law Sc ...
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1932 United States Presidential Election
The 1932 United States presidential election was the 37th quadrennial presidential election, held on Tuesday, November 8, 1932. The election took place against the backdrop of the Great Depression. Incumbent Republican President Herbert Hoover was defeated in a landslide by Democrat Franklin D. Roosevelt, the Governor of New York and the vice presidential nominee of the 1920 presidential election. Roosevelt was the first Democrat in 80 years to simultaneously win an outright majority of the electoral college and popular vote, a feat last accomplished by Franklin Pierce in 1852, as well as the first Democrat in 50 years to win a majority of the popular vote, which was last done by Samuel J. Tilden in 1876. Hoover was the last incumbent president to lose an election to another term until Gerald Ford lost 44 years later. The election marked the effective end of the Fourth Party System, which had been dominated by Republicans. Despite disastrous economic conditions due to the ...
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US Unemployment From 1910-1960
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 primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ...
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Real GDP Of The United States From 1910-1960
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Recession Of 1937–1938
The recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States. By the spring of 1937, production, profits, and wages had regained their early 1929 levels. Unemployment remained high, but it was substantially lower than the 25% rate seen in 1933. The American economy took a sharp downturn in mid-1937, lasting for 13 months through most of 1938. Industrial production declined almost 30 percent, and production of durable goods fell even faster. Unemployment jumped from 14.3% in May 1937 to 19.0% in June 1938. Manufacturing output fell by 37% from the 1937 peak and was back to 1934 levels. Producers reduced their expenditures on durable goods, and inventories declined, but personal income was only 15% lower than it had been at the peak in 1937. In most sectors, hourly earnings continued to rise throughout the recession, partly compensating for the reduction in the number of hours worked. As unemployment rose, consumer expendi ...
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Consumer Debt
In economics, consumer debt is the amount owed by consumers (as opposed to amounts owed by businesses or governments). It includes debts incurred on purchase of goods that are consumable and/or do not appreciate. In macroeconomic terms, it is debt which is used to fund consumption rather than investment. The most common forms of consumer debt are credit card debt, payday loans, student loans and other consumer finance, which are often at higher interest rates than long-term secured loans, such as mortgages. Long-term consumer debt is often considered fiscally suboptimal. While some consumer items such as automobiles may be marketed as having high levels of utility that justify incurring short-term debt, most consumer goods are not. For example, incurring high-interest consumer debt through buying a big-screen television "now", rather than saving for it, cannot usually be financially justified by the subjective benefits of having the television early. In many countries, ...
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American Heritage (magazine)
''American Heritage'' is a magazine dedicated to covering the history of the United States for a mainstream readership. Until 2007, the magazine was published by Forbes.Grosvenor, Edwin S.
"Editor's Letter," ''American Heritage'', Winter 2008.
Since that time, Edwin S. Grosvenor has been its editor and publisher. Print publication was suspended early in 2013, but the magazine relaunched in digital format with the Summer 2017 issue after a Kickstarter campaign raised $31,203 from 587 backers. The 70th Anniversary issue of the magazine (Winter 2020) on the subjec ...
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Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend ...
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