The-Great-Depression-美国经济大萧条

TheGreatDepressionTheGreatDepressionwasasevereworldwideeconomicdepressioninthedecadeprecedingWWⅡ.ThetimingoftheGreatDepressionvariedacrossnations,butinmostcountriesitstartedinabout1929andlasteduntilthelate1930sorearly1940s.Itwasthelongest,mostwidespread,anddeepestdepressionofthe20thcentury.ThedepressionoriginatedintheU.S.,startingwiththefallinstockpricesthatbeganaroundSeptember4,1929andbecameworldwidenewswiththestockmarketcrashofOctober29,1929(knownasblackcrash).Fromthere,itquicklyspreadtoalmosteverycountryintheworld.CausesThereweremultiplecausesforthefirstdownturnin1929.Theseincludethestructuralweaknessesandspecificeventsthatturneditintoamajordepressionandthemannerinwhichthedownturnspreadfromcountrytocountry.Inrelationtothe1929downturn,historiansemphasizestructuralfactorslikemassivebankfailuresandthestockmarketcrash.Incontrast,economistspointtomonetaryfactorssuchasactionsbytheUSFederalreservethatcontractedthemoneysupply,aswellasBritain'sdecisiontoreturntotheGoldStandardatpre–WorldWarIparities(US$4.86:£1).TurningpointandrecoveryVariouscountriesaroundtheworldstartedtorecoverfromtheGreatDepressionatdifferenttimes.Inmostcountriesoftheworld,recoveryfromtheGreatDepressionbeganin1933.IntheU.S.,recoverybeganinthespringof1933.However,theU.S.didnotreturnto1929GNPforoveradecadeandstillhadanunemploymentrateofabout15%in1940,albeitdownfromthehighof25%in1933.EarlychangesbytheRooseveltadministrationincluded:Institutingregulationstofightdeflationary"cut-throatcompetition"throughtheNRA.Settingminimumpricesandwages,laborstandards,andcompetitiveconditionsinallindustriesthroughtheNRA.Encouragingunionsthatwouldraisewages,toincreasethepurchasingpoweroftheworkingclass.CuttingfarmproductiontoraisepricesthroughtheAgricultureAdjustmentActanditssuccessors.ForcingbusinessestoworkwithgovernmenttosetpricecodesthroughtheNRAPoliticalconsequencesThecrisishadmanypoliticalconsequences,amongwhichwastheabandonmentofclassiceconomicliberalapproaches,whichRooseveltreplacedintheU.S.withKeynesianpolicies.Thesepoliciesmagnifiedtheroleofthefederalgovernmentinthenationaleconomy.Between1933and1939,federalexpendituretripled,andRoosevelt'scriticschargedthathewasturningAmericaintoasocialiststate.TheGreatDepressionwasamainfactorintheimplementationofsocialdemoncracyandplannedeconomiesinEuropeancountriesafterWorldWarII.AlthoughAustralianeconomistshadchallengedKeynesianismsincethe1920s,itwasnotuntilthe1970s,withtheinfluenceofMitonFriedmanthattheKeynesianapproachwaspoliticallyquestioned.LiteratureTheGreatDepressionhasbeenthesubjectofmuchwriting,asauthorshavesoughttoevaluateanerathatcausedfinancialaswellasemotionaltrauma.Perhapsthemostnoteworthyandfamousnovelwrittenonthesubj