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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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 List of countries in the Americas by population, most populous country in the Americas and the List of countries and dependencies by population, third most populous in the world. The national capital of the United States is Washington, D. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republic Steel
Republic Steel is an American steel manufacturer that was once the country's third largest steel producer. It was founded as the Republic Iron and Steel Company in Youngstown, Ohio in 1899. After rising to prominence during the early 20th Century, Republic suffered heavy economic losses and was eventually bought out before re-emerging in the early 2000s as a subsidiary. The company currently manufactures Special Bar Quality (SBQ) steel bars and employs around 2,000 people. It is currently owned by Grupo Simec, based in Guadalajara, Mexico. Corporate history Origins and rise to prominence In 1927, Cyrus S. Eaton acquired and combined Republic with several other small steel companies, with the goal of becoming large enough to rival U.S. Steel. The newly named Republic Steel Corporation was headquartered in Cleveland, Ohio, and became America's third largest steel company, trailing only U.S. Steel and Bethlehem Steel after acquiring Bourne-Fuller Company and the Central Alloy S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aggregate Demand
In macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time. It is often called effective demand, though at other times this term is distinguished. This is the demand for the gross domestic product of a country. It specifies the amount of goods and services that will be purchased at all possible price levels. Consumer spending, investment, corporate and government expenditure, and net exports make up the aggregate demand. The aggregate demand curve is plotted with real output on the horizontal axis and the price level on the vertical axis. While it is theorized to be downward sloping, the Sonnenschein–Mantel–Debreu results show that the slope of the curve cannot be mathematically derived from assumptions about individual rational behavior. Instead, the downward sloping aggregate demand curve is derived with the help of three macroeconomic assumptions about the functioning of markets: ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contractionary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often as an attempt to reduce inflation or the interest rate, to ensure price stability and general trust of the value and stability of the nation's currency. Monetary policy is a modification of the supply of money, i.e. "printing" more money, or decreasing the money supply by changing interest rates or removing excess reserves. This is in contrast to fiscal policy, which relies on taxation, government spending, and government borrowing as methods for a government to manage business cycle phenomena such as recessions. Further purposes of a monetary policy are usually to contribute to the stability of gross domestic product, to achieve and maintain low unemployment, and to maintain predictable exchange rates with other currencies. Monetary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the only two nuclear weapons ever used in war. World War II was by far the deadliest conflict in human history; it resulted in 70 to 85 million fatalities, mostly among civilians. Tens of millions died due to genocides (including the Holocaust), starvation, ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Works Progress Administration
The Works Progress Administration (WPA; renamed in 1939 as the Work Projects Administration) was an American New Deal agency that employed millions of jobseekers (mostly men who were not formally educated) to carry out public works projects, including the construction of public buildings and roads. It was set up on May 6, 1935, by presidential order, as a key part of the Second New Deal. The WPA's first appropriation in 1935 was $4.9 billion (about $15 per person in the U.S., around 6.7 percent of the 1935 GDP). Headed by Harry Hopkins, the WPA supplied paid jobs to the unemployed during the Great Depression in the United States, while building up the public infrastructure of the US, such as parks, schools, and roads. Most of the jobs were in construction, building more than 620,000 miles (1,000,000 km) of streets and over 10,000 bridges, in addition to many airports and much housing. The largest single project of the WPA was the Tennessee Valley Authority. At its peak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Works Administration
The Public Works Administration (PWA), part of the New Deal of 1933, was a large-scale public works construction agency in the United States headed by Secretary of the Interior Harold L. Ickes. It was created by the National Industrial Recovery Act in June 1933 in response to the Great Depression. It built large-scale public works such as dams, bridges, hospitals, and schools. Its goals were to spend $3.3 billion (about $10 per person in the U.S.) in the first year, and $6 billion (about $18 dollars per person in the U.S.) in all, to supply employment, stabilize buying power, and help revive the economy. Most of the spending came in two waves in 1933–1935 and again in 1938. Originally called the ''Federal Emergency Administration of Public Works'', it was renamed the Public Works Administration in 1935 and shut down in 1944. The PWA spent over $7 billion (about $22 dollars per person in the U.S.) on contracts with private construction firms that did the actual work. It creat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Adjustment Act Of 1938
:''This is an article about the "Agricultural Adjustment Act of 1938". For the act by the same name in 1933, see Agricultural Adjustment Act.'' The Agricultural Adjustment Act of 1938 () was legislation in the United States that was enacted as an alternative and replacement for the farm subsidy policies, in previous New Deal farm legislation (Agricultural Adjustment Act of 1933), that had been found unconstitutional. The act revived the provisions in the previous Agriculture Adjustment Act, with the exception that the financing of the law's programs would be provided by the Federal Government and not a processor's tax, and was also enforced as a response to the success of the Soil Conservation and Domestic Allotment Act of 1936. Provisions and history The act was the first to make price support mandatory for corn, cotton, and wheat to help maintain a sufficient supply in low production periods along with marketing quotas to keep supply in line with market demand. It established ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of Justice Antitrust Division
The United States Department of Justice Antitrust Division is a division of the U.S. Department of Justice that enforces U.S. antitrust law. It has exclusive jurisdiction over U.S. federal criminal antitrust prosecutions. It also has jurisdiction over civil antitrust enforcement, although it shares civil antitrust enforcement jurisdiction with the Federal Trade Commission (FTC). The Antitrust Division often works jointly with the FTC to provide regulatory guidance to businesses. The Division is headed by an Assistant Attorney General, who is appointed by the President of the United States and reports to the Associate Attorney General. The current Assistant Attorney General for the Antitrust Division is Jonathan Kanter, who was sworn into office November 16, 2021. History On February 25, 1903, Congress earmarked $500,000 for antitrust enforcement. On March 3, 1903, Congress created the position of Antitrust AG, with a salary to be paid out of the funds earmarked for antitru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thurman Arnold
Thurman Wesley Arnold (June 2, 1891 – November 7, 1969) was an American lawyer best known for his trust-busting campaign as Assistant Attorney General in charge of the Antitrust Division in President Franklin D. Roosevelt's Department of Justice from 1938 to 1943. He later served as a Judge on the United States Court of Appeals for the District of Columbia. Before coming to Washington in 1938, Arnold was the mayor of Laramie, Wyoming, and then a professor at Yale Law School, where he took part in the legal realism movement, and published two books: ''The Symbols of Government'' (1935) and ''The Folklore of Capitalism'' (1937). A few years later, he published ''The Bottlenecks of Business'' (1940). Early life and education Thurman was born in the frontier ranch town of Laramie, Wyoming, which grew to be a small city and location of the University of Wyoming. He was the son of Annie (Brockway) and Constantine Peter Arnold. He began his university studies at Wabash College, but t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fireside Chats
The fireside chats were a series of evening radio addresses given by Franklin D. Roosevelt, the 32nd President of the United States, between 1933 and 1944. Roosevelt spoke with familiarity to millions of Americans about recovery from the Great Depression, the promulgation of the Emergency Banking Act in response to the banking crisis, the 1936 recession, New Deal initiatives, and the course of World War II. On radio, he quelled rumors, countered conservative-dominated newspapers, and explained his policies directly to the American people. His tone and demeanor communicated self-assurance during times of despair and uncertainty. Roosevelt was regarded as an effective communicator on radio, and the fireside chats kept him in high public regard throughout his presidency. Their introduction was later described as a "revolutionary experiment with a nascent media platform." The series of chats were among the first 50 recordings made part of the National Recording Registry of the Lib ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keynesian Economics
Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation. In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. Instead, it is influenced by a host of factors – sometimes behaving erratically – affecting production, employment, and inflation. Keynesian economists generally argue that aggregate demand is volatile and unstable and that, consequently, a market economy often experiences inefficient macroeconomic outcomes – a recession, when demand is low, or inflation, when demand is high. Further, they argue that these economic fluctuations can be mitigated by economic policy responses coordinated between government and central bank. In particular, fiscal policy actions (taken by the government) and monetary policy actions (t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
