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Politics : Formerly About Applied Materials
AMAT 228.68+1.2%Nov 17 3:59 PM EST
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To: Katherine Derbyshire who wrote (25046)10/7/1998 10:18:00 PM
From: Gottfried  Read Replies (3) of 70976
 
Katherine, Great Depression
the severe U.S. economic crisis of the 1930s, supposedly
precipitated by the 1929 stock market crash. Certain causative
factors are generally accepted: overproduction of goods; a tariff
and war-debt policy that curtailed foreign markets for American
goods; and easy money policies that led to overexpansion of
credit and fantastic speculation on the stock market. At the
depth (1933) of the Depression, 16 million people-one third of
the labor force-were unemployed. The effects were felt in
Europe and contributed to Adolph HITLER's rise in Germany.
The policies of the NEW DEAL relieved the situation, but
complete recovery came only with the heavy defense spending
of the 1940s. See also DEPRESSION.

encyclopedia.com

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