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date: 14 December 2024

Great Depression. 

Source:
The Oxford Encyclopedia of Economic History
Author(s):
Peter TeminPeter Temin

The Great Depression of the 1930s was the largest peacetime economic catastrophe in history. There had been hard times before, but never without war, natural disaster, or pestilence. The massive and long-lasting unemployment and hardship of the 1930s was a pathology of industrial society, caused by the malfunctioning of the economic system.... ...

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