Recession of 1937–1938
E124628
The Recession of 1937–1938 was a sharp economic downturn in the United States during the New Deal era, marked by renewed declines in industrial production and employment after an initial recovery from the Great Depression.
All labels observed (3)
| Label | Occurrences |
|---|---|
| Recession of 1937 | 1 |
| Recession of 1937–1938 canonical | 1 |
| Roosevelt Recession | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T1053507 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Recession of 1937–1938 Context triple: [Roosevelt administration, significantEvent, Recession of 1937–1938]
-
A.
Great Depression
The Great Depression was a severe worldwide economic downturn during the 1930s that led to massive unemployment, bank failures, and profound social and political change.
-
B.
Panic of 1893
The Panic of 1893 was a severe nationwide economic depression in the United States marked by bank failures, railroad bankruptcies, and mass unemployment that helped bring the Gilded Age to a close.
-
C.
Great Recession recovery
The Great Recession recovery refers to the prolonged period of economic stabilization and gradual growth in the United States following the 2007–2009 financial crisis, marked by large-scale fiscal stimulus, monetary easing, and financial-sector reforms.
-
D.
Panic of 1873
The Panic of 1873 was a severe global financial crisis that triggered a prolonged economic depression in the United States and Europe, marking a major turning point in the early Gilded Age.
-
E.
Panic of 1819
The Panic of 1819 was the first major peacetime financial crisis in the United States, marked by widespread bank failures, foreclosures, and a severe economic downturn that exposed weaknesses in the young nation’s banking and credit systems.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Recession of 1937–1938 Target entity description: The Recession of 1937–1938 was a sharp economic downturn in the United States during the New Deal era, marked by renewed declines in industrial production and employment after an initial recovery from the Great Depression.
-
A.
Great Depression
The Great Depression was a severe worldwide economic downturn during the 1930s that led to massive unemployment, bank failures, and profound social and political change.
-
B.
Panic of 1893
The Panic of 1893 was a severe nationwide economic depression in the United States marked by bank failures, railroad bankruptcies, and mass unemployment that helped bring the Gilded Age to a close.
-
C.
Great Recession recovery
The Great Recession recovery refers to the prolonged period of economic stabilization and gradual growth in the United States following the 2007–2009 financial crisis, marked by large-scale fiscal stimulus, monetary easing, and financial-sector reforms.
-
D.
Panic of 1873
The Panic of 1873 was a severe global financial crisis that triggered a prolonged economic depression in the United States and Europe, marking a major turning point in the early Gilded Age.
-
E.
Panic of 1819
The Panic of 1819 was the first major peacetime financial crisis in the United States, marked by widespread bank failures, foreclosures, and a severe economic downturn that exposed weaknesses in the young nation’s banking and credit systems.
- F. None of above. chosen
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
economic downturn
ⓘ
economic recession ⓘ |
| alsoKnownAs |
Recession of 1937–1938
ⓘ
surface form:
Recession of 1937
Recession of 1937–1938 ⓘ
surface form:
Roosevelt Recession
|
| country |
United States of America
ⓘ
surface form:
United States
|
| describedBySource |
U.S. Bureau of Labor Statistics historical data
ⓘ
Business Cycle Dating Committee ⓘ
surface form:
U.S. National Bureau of Economic Research business cycle chronology
|
| endTime | June 1938 ⓘ |
| fieldOfStudy |
economic history
ⓘ
macroeconomics ⓘ |
| followedBy | World War II economic expansion in the United States ⓘ |
| follows |
Great Depression
ⓘ
surface form:
Great Depression in the United States
early recovery phase of the Great Depression ⓘ |
| gdpDecline | approximately 3 percent real GDP decline in the United States ⓘ |
| governmentBodyInvolved |
Federal Reserve System
ⓘ
United States Congress ⓘ |
| hasCause |
Social Security payroll tax introduction
ⓘ
fiscal contraction by the U.S. federal government ⓘ increases in reserve requirements for banks ⓘ reduction in New Deal spending ⓘ tightening of monetary policy by the Federal Reserve ⓘ |
| hasEffect |
decline in private investment in the United States
ⓘ
decline in real GDP in the United States ⓘ delay in full recovery from the Great Depression in the United States ⓘ increased political support for New Deal spending ⓘ reduction in consumer spending in the United States ⓘ renewed banking sector stress in the United States ⓘ rise in unemployment in the United States ⓘ sharp decline in industrial production in the United States ⓘ stock market decline in 1937 ⓘ strengthening of Keynesian arguments for countercyclical fiscal policy ⓘ |
| headOfGovernmentAtTime |
President Franklin D. Roosevelt
ⓘ
surface form:
Franklin D. Roosevelt
|
| industrialProductionDecline | approximately 30 percent from mid-1937 to mid-1938 in the United States ⓘ |
| locatedInTheAdministrativeTerritorialEntity |
United States of America
ⓘ
surface form:
United States
|
| occursDuring |
New Deal
ⓘ
surface form:
New Deal era
Roosevelt administration ⓘ
surface form:
presidency of Franklin D. Roosevelt
|
| partOf | Great Depression ⓘ |
| pointInTime |
1937
ⓘ
1938 ⓘ |
| significantEvent |
Federal Reserve reserve requirement increases of 1936–1937
ⓘ
reinstatement of expansionary fiscal policy in 1938 ⓘ reversal of New Deal fiscal stimulus ⓘ sharp fall in U.S. stock prices in 1937 ⓘ |
| startTime | May 1937 ⓘ |
| topicOf |
historical analyses of the New Deal
ⓘ
macroeconomic research on policy mistakes of the 1930s ⓘ |
| unemploymentRatePeak | approximately 19 percent in 1938 in the United States ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Recession of 1937–1938 Description of subject: The Recession of 1937–1938 was a sharp economic downturn in the United States during the New Deal era, marked by renewed declines in industrial production and employment after an initial recovery from the Great Depression.
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Roosevelt Recession
this entity surface form:
Recession of 1937