Why The Great Depression Lasted So Long?
Depression has been one of the most serious economic situation that the world has ever seen. It all started in late 1929 and lasted until 1939. Although the origin of depression was the United Sattes but the US economy is highly correlated with the global economy, Efffects patients were seen in the world with high unemployment, low production and deflation. Overall, it was the most severe depression ever experienced by the industrialized Western world. Stock market crashes, bank failures and many more, let inefficient governments and leading the global economy we call today, '' Great Depression ''. As for the cause and led to the Great Depression, the question remains the subject of debate among leading economists, but the node provides evidence
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However, in times of bubbles stock broke out and the massive bankruptcy of US companies, the flow of credit in the economy of the United States, other countries have greatly reduced and, therefore, the world has experienced a drastic drop in production levels. The effects of the reduction of foreign loans may explain why the economies of Germany, Argentina and Brazil have refused before the Great Depression began in the United States.
Why the Great Depression lasted so long?
The Great Depression lasted 10 years from 1929 to 1939. Many economists and researchers argue that lasted longer than it should have. After 1933, the world economy has increased production levels, stable liquidity and growing consumer demand Federal Reserve was more than its monetary base. So desite these positive factors, prolonged depression until 1939 and the reason for it was ineffective economic programs launched by President Roosevelt to restore prices to levels prior to depression. In addition, rates of labor / wages were well above the sustainable level. However, it was only during the late 1930s, when the policy NIRA was replaced by the Taft-Harley Act and hours of work therefore began to increase. In addition, industrial wages were back in line with productivity trends and market and hours worked per capita were back to normal levels and depression was finally completed in late
However, in times of bubbles stock broke out and the massive bankruptcy of US companies, the flow of credit in the economy of the United States, other countries have greatly reduced and, therefore, the world has experienced a drastic drop in production levels. The effects of the reduction of foreign loans may explain why the economies of Germany, Argentina and Brazil have refused before the Great Depression began in the United States.
Why the Great Depression lasted so long?
The Great Depression lasted 10 years from 1929 to 1939. Many economists and researchers argue that lasted longer than it should have. After 1933, the world economy has increased production levels, stable liquidity and growing consumer demand Federal Reserve was more than its monetary base. So desite these positive factors, prolonged depression until 1939 and the reason for it was ineffective economic programs launched by President Roosevelt to restore prices to levels prior to depression. In addition, rates of labor / wages were well above the sustainable level. However, it was only during the late 1930s, when the policy NIRA was replaced by the Taft-Harley Act and hours of work therefore began to increase. In addition, industrial wages were back in line with productivity trends and market and hours worked per capita were back to normal levels and depression was finally completed in late