There is no universally agreed-upon explanation for why the Great Depression happened, but most theories cite the gold standard and the Federal Reserve's inadequate response as contributing factors GDP during the Great Depression fell by nearly half. ...
With employers looking to make savings, people may find it harder to find work or get a pay rise. As businesses and shops close or shrink their workforce,people may lose their jobs. Getting a mortgage or loan during a recession will prove hard as banks tighten their lending cr...
Postcard from Camp Gaylore James Charles Would Like to Be Un-Canceled, Please The Doll Mommies Are Fighting These Reads Prove That Book Bans Are Trash Are You My Conversion Therapist? The Sexual Identity Posing as “Commitment Issues”
The swift policy response to the recent financial crisis helped the world economy avoid a replay of the Great Depression of 1929-32. But can we avoid a replay of 1937-38? With the world economy weakening once again, this column addresses the question with a renewed urgency and comes up wit...
Too big to fail. We have to break these big banks up.Well, nobody did that in 2008. In fact, the opposite happened. They got bigger. And now well, what's happening?They're bailing the bigger banks out. Making the big banks bigger. Credit Suisse just rolled into a big bank. This...
Without the ability to manipulate the money supply, nations couldn’t influence the value of their currencies as is done today by central banks in the absence of the gold standard. And because the gold standard was widely adopted, it standardized foreign exchange rates. The disadvantages of the...
Third, banks have performed dismally when they were supposedly profitable. They funded the nonprime and the commercial real estate (CRE) bubbles that not only cause trillions of dollars of losses and the Great Recession, but also misallocated assets (physical and human) during those bubbles. Far...
People who lose jobs during recessions, especially deep recessions, are more likely to become long-term unemployed and find it more difficult to reenter the labor market later. Among workers who lost their jobs during the Great Recession, only 35% to 40% were employed full-time by January 201...
During the 19th century, the development of technology and the growth of international trade created stronger ties among countries, a process that accelerated into theGreat Depressionand World War II. After 50 years of the Cold War, the late 20th and early 21st centuries have seen a renewed glo...
Federal government-mandated disclosure came into being in the U.S. with the passage of theSecurities Act of 1933and the Securities Exchange Act of 1934. Both laws were responses to the stock market crash of 1929 and the Great Depression that followed. ...