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Great Depression
• The Great Depression in Outline
• The Great Crash
• Even a Panic Is Not All Together a Bad Thing
• Debt-Deflation
• Golden Fetters
• The Persistence of the Great Depression
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The Great Depression in Outline
It is straightforward to narrate the slide of the world into the Great Depression. The 1920's saw a stock market boom in the U.S. as the result of general optimism: businessmen and economists believed that the newly-born Federal Reserve would stabilize the economy, and that the pace of technological progress guaranteed rapidly rising living standards and expanding markets. The U.S. Federal Reserve's attempts in 1928 and 1929 to raise interest rates to discourage stock speculation brought on an initial recession.

Caught by surprise, firms cut back their own plans for further purchase of producer durable goods; firms making producer durables cut back production; out-of-work consumers and those who......

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Approximate Word Count: 6413
Approximate Pages: 26 (250 words per double-spaced page)

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