Great Depression

Great Depression uu time rahaa jab dunia bhar ke des ke economy bahut kharaam hoe gais rahaa. Ii 1929 ke Wall Street Crash se suruu bhais rahaa. 24 October 1929 se lae ke 29 October 1929 talak wall street me share ke daam bahut jaada giraa. Dher jan ke kaam se nikal dewa gais rahaa. Ii log bahut garib hoe gain aur kuchh log ke rahe khatir ghar bhi nai rahaa.

Overview

U. S. ke unemployment rate 1910 se 1960 tak, jisme Great Depression (1929–39) ke saal ke highlight karaa gais hae

Dow Jones Industrial Average, 1928–1930

Crisis ke suruu ke economic picture

Wall Street crash of 1929 ke baad, jab Dow Jones Industrial Average 381 se 198 jiraa rahaa, dui mahina me , lekin log optimistik rahin kuchh din talak. 1930 ke suruwaat me, stock market uppar gais, aur April 1930 me Dow 294 talak pahunch gais (pre-depression levels), lekin iske baad ii niche gire lagaa, aur 1932 me 41 talak gir gais rahaa.^[1]

Suruu me, sarkar aur businesses 1930 ke pahila aadha hissa me jaada kharchaa karin , pahile waala saal ke mukaable me. Lekin kharide waale, jisme se dher log 1930s me stock market me dher paisa lose kare rahin, aapan kharchaa ke 10% se kaat de rahin. Iske saathe, mid-1930s se, ek kharaab jhuura ke kaaran U. S. ke kheti waala jgha ke barbaad kar diis rahaa. ^[2]

Interest rates , mid-1930 talak ekdam kamti hoe gais rahaa, lekin deflation aur log ke paisa kharchaa kare aur udhaar le pe hichkichaana ke kaaran consumer spending aur investment kamti rahaa.^[3] May 1930 talak, motar ke bikri 1928 ke level se kamti hoe gais rahaa. Jaada chij ke daam gire lagaa, lekin talab 1930 me nai gira rahaa. 1931 me ek deflationary spiral suruu bhais rahaa. Kisan log ke prathithi aur kharaa rahaak; fasal ke girte daam aur Great Plains me jhuura uu log economic outlook ke naas kar diis rahaa. Great Depression ke choti pe Great Plains le lagbhag 10% khet ke bejaa gais rahaa, federal sarkar ke sahaeta ke bawajuut. ^[4]

United States se bahaar

Suruu me, U.S. economy ke utpaadan kamti hona, khaali ek kaaran rahaa, jisse aur des me bhi utpaadan giaa rahaa, trade, capital movement, aur global business confidence kamti bhais rahaa. Iske baad, har ek des ke bhitri kamjori nai to taagat, haalat ke aur kharaab nai to achchhaa karis rahaa. Jaise, U.K. ke economy, jon ek economic downturn me rahaa late 1920s bhar, me depression ke kamti asar rahaa, U.S. ke mukable me, Iske jagha, German economyke industrial output U.S. ke rakam gira rahaa.^[5] Kuchh economic historians rates of recovery and relative severity of the economic decline ke antar ke attribute kare hae ki uu des effectively aapan currency ke devaluate kare paais rahaa ki nai. Iske support mile hae ki kaise ii crisis progress bhais rahaa in, e.g., Britain, Argentina, aur Brazil me, jon sab aapan currency ke jaldi devalue kar de rahin aur normal patterns of growth pe aur jaldi laut gay rahin, uu des ke mukable me jon gold standard ke kaam me laate rahin, jaise France aur Belgium.^[6]

Ek-ek des ke kosis aapan des ke shore kare ke protectionist policies se—jaise 1930 me U.S. Smoot–Hawley Tariff Act aur retaliatory tariffs duusra des me, ke kaaran dunia ke trade gir gais rahaa, jisse depression aur kharaab hoe gais rahaa.^[7] 1933 talak, economic decline ke kaaran dunia ke trade, chaar saal pahile ke one-third rahaa.^[8]

conomic indicators 1929–1932 ke badlao^[9]
	United States	United Kingdom	France	Germany
Industrial production	−46%	−23%	−24%	−41%
Wholesale prices	−32%	−33%	−34%	−29%
Foreign trade	−70%	−60%	−54%	−61%
Unemployment	+607%	+129%	+214%	+232%

Course

Origins

Jab ki Great Depression ke kaaran ke dispute karaa jaae hae aur iske duuno global aur national phenomena pe trace karaa jaae sake hae, iske immediate kaaran ke U.S. economy ke context me examine karaa jaawe hae, jahaan se ii crises dunia ke baaki des me faela rahaa.^[10]

World War I ke baad, Roaring Twenties United States aur Western Europe me dher prosperity laais rahaa.^[11] Suruu me, 1929 ke saal suruu bhais jisme achchhaa economic prospects rahaa: 25 March 1929 me ek chhotaa crash ke bawajuut, market September talak barrte rahaa. Stock prices September me gire lagaa aur mahina ke ant me volatile rahaa.^[12] Stocks ke ek barra bikri October ke biich me suruu bhais rahaa. Aakhri me, 24 October ke din, Black Thursday bhais, American stock 11% gira rahaa, opening bell pe. Market ke stabilize kare ke kosis asafal rahaa, aur 28 October, Black Monday ke din, market aur 12% giraa rahaa. Agle din, Black Tuesday ke roj, market ek aur 11% gira.^[13]^[14] Hajaaro investors barbaad hoe gay rahin, aur billions of dollars khalaas hoe gais rahaa; dher stocks ke koi daam me bhi nai beja jaae sakat rahaa, koi bhi daam me.^[14] Budh ke din, market 12% uppar gais, lekin ii time talak dher barbaadi hoe gais rahaa. Jab ki market 14 November se 17 April 1930 talak recovery me rahaa, jaada kar ke ii ek lambaa slump rahaa. F September 1929 se 8 July 1932 talak, market 85% gira rahaa .^[15]

Crash ke bawajuut, crisis ke sab se kharaab effect dunia bhar me 1929 ke baad faela rahaa. December 1930 me crisis fir se panic level pahunch gais rahaa, jisme ek bank run Bank of United States pe, pahile ke a privately run bank jiske U.S. government (not to be confused with the Federal Reserve) se koi sambandh nai rahaa. Kaaheki ii bank aapan creditors ke bhare nai paais rahaa, ii fail hoe gais rahaa.^[16]^[17] 608 American banks jon November aur December 1930 me band bhay rahin, Bank of United States ke $550 million deposits lost deposit ke one-third rahaa, aur iske band hoe ke kaaran closure, bank failures ek critical mass me paunch gais rahaa.^[18]

References

↑ "1998/99 Prognosis Based Upon 1929 Market Autopsy". Gold Eagle. Archived from the original on 17 May 2008. Retrieved 22 May 2008.
↑ "Drought: A Paleo Perspective – 20th Century Drought". National Climatic Data Center. Archived from the original on 30 March 2009. Retrieved 5 April 2009.
↑ Hamilton, James (1987). "Monetary Factors in the Great Depression". Journal of Monetary Economics 19 (2): 145–69. doi:10.1016/0304-3932(87)90045-6. ISSN 0304-3932. https://archive.org/details/sim_journal-of-monetary-economics_1987-03_19_2/page/145.
↑ "The Great Depression". drought.unl.edu (in English). Archived from the original on 29 March 2018. Retrieved 29 March 2018.
↑ Kindleberger, Charles P. (1986). The world in depression, 1929–1939. History of the world economy in the twentieth century (Rev. and enl. ed.). Berkeley: University of California Press. ISBN 978-0-520-05591-9.
↑ Kindleberger, Charles Poor (1973). The world in depression, 1929–1939. History of the world economy in the twentieth century (Rev. and enl. ed., 11. [print.] ed.). Berkeley, Calif.: University of California Press. ISBN 978-0-520-05592-6.
↑ Historic Events for Students: The Great Depression (Volume I ed.). Gale. July 2002. ISBN 978-0-7876-5701-7.
↑ Tignor, Robert L. (28 October 2013). Worlds together, worlds apart: a history of the world from the beginnings of humankind to the present (Fourth ed.). New York: W. W. Norton. ISBN 978-0-393-92207-3. OCLC 854609153. https://archive.org/details/worldstogetherwo0000tign_s6m3.
↑ Jerome Blum, Rondo Cameron, Thomas G. Barnes, The European world: a history, (2nd ed 1970), 885 pp.
↑ Patel, Kiran Klaus (2016). The New Deal: A Global History. Princeton University Press. pp. 1–45. doi:10.2307/j.ctt1h4mhhp. ISBN 978-0-691-14912-7.
↑ George H. Soule, Prosperity Decade: From War to Depression: 1917–1929, (1947).
↑ "Timeline: A selected Wall Street chronology". PBS. Archived from the original on 23 September 2008. Retrieved 30 September 2008.
↑ "The Great Crash of 1929, some key dates", 24 October 2011. (in en-CA)
1 2 "Market crash of 1929: Some facts of the economic downturn". The Economic Times. Times Inernet. 22 October 2017. Retrieved 16 February 2019.
↑ Federal Reserve Bank of St. Louis Economic Data website ke anusaar, jon monthly timeseries 1929 September – 1932 June pe based hae, Dow Jones Industrial Average 87.1% giraa, jab Cowles Commission aur S&P's ke stock index 85.0% gira rahaa: https://fred.stlouisfed.org/graph/?g=qj2m , https://fred.stlouisfed.org/graph/?g=qj2l.
↑ Gordon, John Steele (November–December 2018). "The Bank of United States". ABA Banking Journal 110 (6): 58. Template:ProQuest. https://www.proquest.com/docview/2160290916.
↑ Calomiris, Charles W. (November 2007). "Bank Failures in Theory and History: The Great Depression and Other "Contagious" Events". National Bureau of Economic Research. Working Paper Series. doi:10.3386/w13597. https://www.nber.org/papers/w13597.
↑ Ferguson, Niall (October 2009), The Ascent of Money, Penguin, p. 163, ISBN 978-986-173-584-9

[1] "1998/99 Prognosis Based Upon 1929 Market Autopsy". Gold Eagle. Archived from the original on 17 May 2008. Retrieved 22 May 2008.

[2] "Drought: A Paleo Perspective – 20th Century Drought". National Climatic Data Center. Archived from the original on 30 March 2009. Retrieved 5 April 2009.

[3] Hamilton, James (1987). "Monetary Factors in the Great Depression". Journal of Monetary Economics 19 (2): 145–69. doi:10.1016/0304-3932(87)90045-6. ISSN 0304-3932. https://archive.org/details/sim_journal-of-monetary-economics_1987-03_19_2/page/145.

[4] "The Great Depression". drought.unl.edu (in English). Archived from the original on 29 March 2018. Retrieved 29 March 2018.

[cpk-5] Kindleberger, Charles P. (1986). The world in depression, 1929–1939. History of the world economy in the twentieth century (Rev. and enl. ed.). Berkeley: University of California Press. ISBN 978-0-520-05591-9.

[6] Kindleberger, Charles Poor (1973). The world in depression, 1929–1939. History of the world economy in the twentieth century (Rev. and enl. ed., 11. [print.] ed.). Berkeley, Calif.: University of California Press. ISBN 978-0-520-05592-6.

[7] Historic Events for Students: The Great Depression (Volume I ed.). Gale. July 2002. ISBN 978-0-7876-5701-7.

[8] Tignor, Robert L. (28 October 2013). Worlds together, worlds apart: a history of the world from the beginnings of humankind to the present (Fourth ed.). New York: W. W. Norton. ISBN 978-0-393-92207-3. OCLC 854609153. https://archive.org/details/worldstogetherwo0000tign_s6m3.

[9] Jerome Blum, Rondo Cameron, Thomas G. Barnes, The European world: a history, (2nd ed 1970), 885 pp.

[10] Patel, Kiran Klaus (2016). The New Deal: A Global History. Princeton University Press. pp. 1–45. doi:10.2307/j.ctt1h4mhhp. ISBN 978-0-691-14912-7.

[Soule-1947-11] George H. Soule, Prosperity Decade: From War to Depression: 1917–1929, (1947).

[pbsstock2-12] "Timeline: A selected Wall Street chronology". PBS. Archived from the original on 23 September 2008. Retrieved 30 September 2008.

[:02-13] "The Great Crash of 1929, some key dates", 24 October 2011. (in en-CA)

[:4-14] 1 2 "Market crash of 1929: Some facts of the economic downturn". The Economic Times. Times Inernet. 22 October 2017. Retrieved 16 February 2019.

[15] Federal Reserve Bank of St. Louis Economic Data website ke anusaar, jon monthly timeseries 1929 September – 1932 June pe based hae, Dow Jones Industrial Average 87.1% giraa, jab Cowles Commission aur S&P's ke stock index 85.0% gira rahaa: https://fred.stlouisfed.org/graph/?g=qj2m , https://fred.stlouisfed.org/graph/?g=qj2l.

[16] Gordon, John Steele (November–December 2018). "The Bank of United States". ABA Banking Journal 110 (6): 58. Template:ProQuest. https://www.proquest.com/docview/2160290916.

[17] Calomiris, Charles W. (November 2007). "Bank Failures in Theory and History: The Great Depression and Other "Contagious" Events". National Bureau of Economic Research. Working Paper Series. doi:10.3386/w13597. https://www.nber.org/papers/w13597.

[18] Ferguson, Niall (October 2009), The Ascent of Money, Penguin, p. 163, ISBN 978-986-173-584-9

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