Our research indicates that New Deal labor and industrial policies prolonged the Depression by seven years. In , severe droughts in the Southern Plains brought high winds and dust from Texas to Nebraska, killing people, livestock and crops. The common view among most economists is that Roosevelt’s New Deal policies either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession. Journal of Economic History. Detailed information about all U.
Go to Page Please register to participate in our discussions with 2 million other members – it’s free and quick! Some forums can only be seen by registered members. Historians pretty much agree that the Great Depression of the ‘s was the worst business cycle our country has been subjected too in modern times. What really caused it though?
Because of the complexity of the Great Depression, there are several different ways in which you can date the beginning and ending of this immense event. Many people date the beginning from October with the crash of the stock market. However, if nothing else occurred other than the stock market crash, this one event would probably have caused only a garden-variety recession. What really made the Depression an historically unique event was the partial collapse of the banking system. This collapse started in So purely for the purposes of this discussion, I will arbitrarily set the beginning of the Depression as the beginning of If one defines the end as the time when the economy recovered to where the real GDP surpassed its output in , the ending would be sometime in the neighborhood of This gives us about nine years of recession by this reckoning, or months of recession.
Outline Index. Foley October 28, Economic historians.