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The 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] |
Black Tuesday
The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash that occurred in the autumn of 1929. It started in September and ended late in October, when share prices on the New York Stock Exchange collapsed. It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its aftereffects. The Great Crash is mostly associated with October 24, 1929, called ''Black Thursday'', the day of the largest sell-off of shares in U.S. history, and October 29, 1929, called ''Black Tuesday'', when investors traded some 16 million shares on the New York Stock Exchange in a single day. The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the Great Depression. Background The "Roaring Twenties", the decade following World War I that led to the crash, was a time of wealth and excess. Building on post-war optimism, rural Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crowd Outside Nyse
Generally speaking, a crowd is defined as a group of people that have gathered for a common purpose or intent such as at a Demonstration (people), demonstration, a Sport, sports event, or during looting (this is known as an acting crowd), or may simply be made up of many people going about their business in a busy area. The term "the crowd" may sometimes refer to the lower orders of people in general. Terminology The term "crowd" is sometimes defined in contrast to other group nouns for collections of humans or animals, such as aggregation, audience, group, mass, mob, populous, public, rabble and throng. Opinion researcher Vincent Price (educator), Vincent Price compares masses and crowds, saying that "Crowds are defined by their shared emotional experiences, but masses are defined by their interpersonal isolation."Public Opinion By Carroll J. Glynn, Susan Herbst, Garrett J. O'Keefe, Robert Y. Shapiro In human sociology, the term "mobbed" simply means "extremely wikt:crowded ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas G
Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (other) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the Apostle * Thomas (bishop of the East Angles) (fl. 640s–650s), medieval Bishop of the East Angles * Thomas (Archdeacon of Barnstaple) (fl. 1203), Archdeacon of Barnstaple * Thomas, Count of Perche (1195–1217), Count of Perche * Thomas (bishop of Finland) (1248), first known Bishop of Finland * Thomas, Earl of Mar (1330–1377), 14th-century Earl, Aberdeen, Scotland Geography Places in the United States * Thomas, Illinois * Thomas, Indiana * Thomas, Oklahoma * Thomas, Oregon * Thomas, South Dakota * Thomas, Virginia * Thomas, Washington * Thomas, West Virginia * Thomas County (other) * Thomas Township (other) Elsewhere * Thomas Glacier (Greenland) Arts, entertainment, and media * ''Thomas'' (Burton novel) 1969 novel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rondo Cameron
Rondo Emmett Cameron (February 20, 1925 – January 1, 2001) was an American professor of economic history. He was a native of Texas. He graduated from Yale (1948) and received a Ph.D. degree at the University of Chicago (1952). He taught at the University of Wisconsin, Madison from 1952. In 1969, he went to Emory University where he was Kenan University Professor until his retirement as emeritus professor in 1993. He was president of the International Economic History Association (Sylla, 2001). He is well known for his book ''A Concise Economic History of the World: From Paleolithic Times to the Present'' (1989). According to the preface, the book was many years in the maturing, with passages in one chapter from an introductory undergraduate lecture at Yale in 1951. Selected publications * Jerome Blum, Rondo Cameron, and Thomas G. Barnes. (1970). ''The European World''. Little, Brown. * Rondo Cameron et al. (1975). ''Civilizations: Western and World''. * Rondo E. Cameron. '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jerome Blum
Lord and Peasant in Russia from the Ninth to the Nineteenth Century is a political-social-economic history of Russia written by historian Jerome Blum and published by Princeton University Press in 1961. The work covers the period from Varangian origins, to the end of serfdom in the 19th century. Synopsis As the title indicates, the work in centered on the evolving relationships between landowners and peasants and how that relationship impacted the political world and economic conditions inside Russia. The author explores how the growing power of towns and trade, a dispersed population, and poor transportation and communications networks influenced this fundamental social relationship underlying Russian society. In the introduction to the work, the author describes their intention to, ''"trace the history of the lords and peasants, and of the relationships between them" through a period of one thousand years, "against the background of Russian political and economic evolutio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Smoot–Hawley Tariff Act
The Tariff Act of 1930 (codified at ), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was a law that implemented protectionist trade policies in the United States. Sponsored by Senator Reed Smoot and Representative Willis C. Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods. The tariffs under the act, excluding duty-free imports (see Tariff levels below), were the second highest in United States history, exceeded by only the Tariff of 1828. The Act prompted retaliatory tariffs by affected states against the United States. The Act and tariffs imposed by America's trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the Depression. Economists and economic historians have a consensus view that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression. Sponsors and legislative history In 1922, Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protectionism
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the Import substitution industrialization, import-competing sector in the country from foreign competitors. Opponents argue that protectionist policies reduce trade and adversely affect consumers in general (by raising the cost of imported goods) as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries protected against. Protectionism is advocated mainly by parties that hold Economic nationalism, economic nationalist or left-wing positions, while economically right-wing political parties generally support free trade. There is a consensus among economists that protectioni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The United States
The United States is a highly developed mixed-market economy and has the world's largest nominal GDP and net wealth. It has the second-largest by purchasing power parity (PPP) behind China. It has the world's seventh-highest per capita GDP (nominal) and the eighth-highest per capita GDP (PPP) as of 2022. US share of Global economy is 15.78% in PPP terms in 2022. The United States has the most technologically powerful and innovative economy in the world. Its firms are at or near the forefront in technological advances, especially in artificial intelligence, computers, pharmaceuticals, and medical, aerospace, and military equipment. The U.S. dollar is the currency of record most used in international transactions and is the world's foremost reserve currency, backed by the nation’s massive economy, stable government, extensive natural resources, highly advanced military, its role as the reference standard for the petrodollar system, and its linked eurodollar and la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deflationary Spiral
In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). Inflation reduces the value of currency over time, but sudden deflation increases it. This allows more goods and services to be bought than before with the same amount of currency. Deflation is distinct from disinflation, a slow-down in the inflation rate, i.e. when inflation declines to a lower rate but is still positive. Economists generally believe that a sudden deflationary shock is a problem in a modern economy because it increases the Real versus nominal value (economics), real value of debt, especially if the deflation is unexpected. Deflation may also aggravate recessions and lead to a deflationary spiral. Some economists argue that prolonged deflationary periods are related to the underlying of technological progress in an economy, because as productivity increases (Total factor productivity, TFP), t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deflation
In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). Inflation reduces the value of currency over time, but sudden deflation increases it. This allows more goods and services to be bought than before with the same amount of currency. Deflation is distinct from disinflation, a slow-down in the inflation rate, i.e. when inflation declines to a lower rate but is still positive. Economists generally believe that a sudden deflationary shock is a problem in a modern economy because it increases the Real versus nominal value (economics), real value of debt, especially if the deflation is unexpected. Deflation may also aggravate recessions and lead to a deflationary spiral. Some economists argue that prolonged deflationary periods are related to the underlying of technological progress in an economy, because as productivity increases (Total factor productivity, TFP), t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
