Great Depression
E137
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.
Aliases (8)
Statements (97)
| Predicate | Object |
|---|---|
| instanceOf |
economic depression
→
financial crisis → historical event → |
| alsoKnownAs |
Great Slump
→
|
| cause |
1929 Wall Street Crash
→
banking crises → collapse of international trade → deflationary monetary policy → gold standard constraints → overproduction in industry and agriculture → stock market speculation bubble → unequal income distribution → |
| effect |
bank failures
→
business bankruptcies → changes in macroeconomic theory → collapse of world trade → decline in birth rates → decline in international investment → deflation → expansion of welfare state policies → falling industrial output → farm foreclosures → growth of Keynesian economics → homelessness → mass unemployment → political instability → rise of extremist political movements → social unrest → strengthening of government economic regulation → widespread poverty → |
| fieldOfStudy |
economic history
→
macroeconomics → political history → |
| followedBy |
World War II economic mobilization
→
|
| hasConsequence |
changes in labor laws
→
creation of deposit insurance in several countries → development of macroeconomic stabilization policies → expansion of central bank roles → growth of social safety nets → increased government intervention in economy → influence on creation of International Monetary Fund → influence on creation of World Bank → influence on economic policy during later recessions → influence on postwar Bretton Woods system → reform of banking systems → rise of welfare capitalism → shift in political alignments in United States → strengthening of labor unions → |
| hasEndTime |
early 1940s
→
late 1930s → |
| hasKeyEvent |
Banking Act of 1933
→
Dust Bowl → First New Deal → Glass–Steagall Act → London Economic Conference → New Deal → Ottawa Agreements → Reconstruction Finance Corporation creation → Second New Deal → Smoot–Hawley Tariff Act → Social Security Act of 1935 → U.S. Securities Act of 1933 → U.S. Securities Exchange Act of 1934 → Wagner Act → abandonment of gold standard by United Kingdom → abandonment of gold standard by United States → bank holiday of 1933 → creation of Securities and Exchange Commission → currency devaluations → establishment of Federal Deposit Insurance Corporation → formation of Popular Front governments in Europe → rise of Nazi Party in Germany → rise of protectionist trade policies → |
| hasKeyFigure |
Adolf Hitler
→
Benito Mussolini → Franklin D. Roosevelt → Herbert Hoover → John Maynard Keynes → Winston Churchill → |
| hasLocation |
Australia
→
Canada → France → Germany → Latin America → United Kingdom → worldwide → |
| hasMainLocation |
United States
→
|
| hasNotableAspect |
Hoovervilles shantytowns in United States
→
breadlines and soup kitchens → collapse of commodity prices → cultural depictions in literature and film → migration from rural to urban areas → sharp decline in GDP → unemployment rates above 20 percent in many countries → |
| hasStartTime |
1929
→
|
| precededBy |
Roaring Twenties
→
|
| timePeriod |
1930s
→
|