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Essay Archive - Depression of the 1930s
Depression of the 1930s
The economic depression that beset the United States and other countries in
the 1930s was unique in its magnitude and its consequences. At the depth of
the depression, in 1933, one American worker in every four was out of a job.
In other countries unemployment ranged between 15 percent and 25 percent of
the labor force. The great industrial slump continued throughout the 1930s,
shaking the foundations of Western capitalism and the society based upon it.
Economic Aspects
President Calvin COOLIDGE had said during the long prosperity of the 1920s
that "The business of America is busines....
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