The observed story of the Great Depression—a deflationary spiral that forced dramatic falls in asset and commodity prices, dramatic drops in demand and access to credit, as well as disruption of trade—has not largely changed since study of the period began. The question has always been what were the causes, and how did the factors interrelate. Which government policies created it? Which ones improved the recovery or slowed the expansion? Was the Great Depression predictable and preventable? On the other hand, was it the inevitable aftere ...

See also:

Causes of the Great Depression, Causes of the Great Depression - Orthodox economics, Causes of the Great Depression - Credit disruption theories, Causes of the Great Depression - A misdistribution of purchasing power, Causes of the Great Depression - The Federal Reserve and the money supply, Causes of the Great Depression - A lack of diversification, Causes of the Great Depression - Postwar deflationary pressures, Causes of the Great Depression - The credit structure, Causes of the Great Depression - The breakdown of international trade, Causes of the Great Depression - Cyclical theories, Causes of the Great Depression - Long cycle theories, Causes of the Great Depression - Sunspots, Causes of the Great Depression - Marxist theories of the Great Depression, Causes of the Great Depression - Ideological perspectives on the causes of the Great Depression, Causes of the Great Depression - Socialist and communist perspectives, Causes of the Great Depression - Liberal perspectives, Causes of the Great Depression - Anarcho-capitalist perspectives, Causes of the Great Depression - Political Perspectves on Causes and Cures, Causes of the Great Depression - The New Deal and Keynesian economics, Causes of the Great Depression - The recession of 1937 and recovery

Read more here: » Causes of the Great Depression: Encyclopedia II - Causes of the Great Depression - Orthodox economics

Recessions are mostly caused by external economic shocks, or the unwinding of major imbalances in the economy. One mechanism is based substantially on the role of consumer confidence and business confidence, which are important for example for individuals and organizations to decide whether their current investment or debt levels are correct. A wave of bad news (eg job losses at a big company) may lead enough people to worry about the future, increase their saving and reduce their spending, so that further bad news is caused. This ca ...

See also:

Recession, Recession - Causes of recessions, Recession - Depression

Read more here: » Recession: Encyclopedia II - Recession - Causes of recessions

Main article: History of the Quebec independence movement Quebec sovereignty movement - Precursor ideas and events. See: Quebec nationalism Sovereigntism and sovereignty are terms that refer to the modern movement in favour of the political independence of Quebec. However, the roots of Quebec's desire for self-determination can be traced back as far as the Alliance Laurentienne of 1957, the writings of Lionel Groulx in the 1920s, the Francoeur Motion of 1917, Honoré Mercier's flirtation with this idea (especially in his historic speech of 1893.) See also:

Quebec sovereignty movement, Quebec sovereignty movement - Sovereignty-association, Quebec sovereignty movement - History, Quebec sovereignty movement - Precursor ideas and events, Quebec sovereignty movement - Emergence, Quebec sovereignty movement - The early years of the PQ, Quebec sovereignty movement - The referendum of 1980, Quebec sovereignty movement - Repatriation Meech Charlottetown, Quebec sovereignty movement - The referendum of 1995, Quebec sovereignty movement - Present, Quebec sovereignty movement - The Clarity Act, Quebec sovereignty movement - Modernization, Quebec sovereignty movement - Allies and opponents, Quebec sovereignty movement - National, Quebec sovereignty movement - Rest of Canada, Quebec sovereignty movement - International, Quebec sovereignty movement - Ambivalence, Quebec sovereignty movement - Sovereigntist organizations, Quebec sovereignty movement - Sympathizing organizations, Quebec sovereignty movement - Sovereigntist media

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Socialism Part of the Politics series History of socialism Democratic socialism Christian socialism Communism Libertarian socialism Social democracy Egalitarianism Democracy Equality of outcome Class struggle Proletarian revolution Marxism Anarchism Trade unionism Internationalism Utilitarianism Mixed economy Socialist economics Social ...

Including:

• Marxism - The Hegelian roots of Marxism
• Marxism - The political-economy roots of Marxism
• Marxism - The liberal challenge
• Marxism - Class analysis
• Marxism - Marxist revolutions and governments
• Marxism - Marx's views on the structure of communist society
• Marxism - The October Revolution
• Marxism - Criticisms
• Marxism - Other articles about Marxism

Read more here: » Marxism: Encyclopedia - Marxism

Liberalism is an ideology, or current of political thought, which strives to maximize liberty. [1] Liberalism seeks a society characterized by freedom of thought for individuals, limitations on the power of government and religion, the rule of law, the free exchange of ideas, a free market economy that supports private enterprise, and a system of government that is transparent. This form of government favors liberal democracy with open and fair ...

Including:

• Liberalism - The nature and origins of liberalism: an overview
• Liberalism - Etymology and historical usage
• Liberalism - Trends within liberalism
• Liberalism - Comparative influences
• Liberalism - Development of liberal thought
• Liberalism - Origins of liberal thought
• Liberalism - Revolutionary liberalism
• Liberalism - Disputes within liberalism
• Liberalism - Liberalism and the great depression
• Liberalism - Liberalism against totalitarianism
• Liberalism - Liberalism after World War II
• Liberalism - The impact of liberalism in the modern world
• Liberalism - Contemporary liberalism
• Liberalism - A general overview of political positions
• Liberalism - Political deviances
• Liberalism - Comparative critiques
• Liberalism - Liberal conservatism
• Liberalism - Neoliberalism
• Liberalism - Further reading on liberalism

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Bertil Ohlin (April 23, 1899 – August 3, 1979), was a Swedish economist and winner of the 1977 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. His name lives on in the standard mathematical model of international free trade. Having received his B.A. from Lund University 1917, and his M.A. from Harvard University in 1923, Ohlin received his doctorate from Stockholm University in 1924. In 1925 he became a professor at the University of Copenhagen. In 1929 he debated with John Maynard Keynes, contradicting t ...

Including:

• Bertil Ohlin - Significant Publications

Read more here: » Bertil Ohlin: Encyclopedia - Bertil Ohlin

Causes of the Great Depression - Socialist and communist perspectives. At the time of the Great Depression ideas abounded that the Great Depression was the result of systematic failure. Many in the U.S. believed that it represented, alternately, the result of too much government interference in the economy, or conversely the failure of the "cut throat capitalist system based on the profit motive," as Commerce Secretary Henry Wallace described it. Many Marxist and socialist writers of tha ...

See also:

Causes of the Great Depression, Causes of the Great Depression - Orthodox economics, Causes of the Great Depression - Credit disruption theories, Causes of the Great Depression - A misdistribution of purchasing power, Causes of the Great Depression - The Federal Reserve and the money supply, Causes of the Great Depression - A lack of diversification, Causes of the Great Depression - Postwar deflationary pressures, Causes of the Great Depression - The credit structure, Causes of the Great Depression - The breakdown of international trade, Causes of the Great Depression - Cyclical theories, Causes of the Great Depression - Long cycle theories, Causes of the Great Depression - Sunspots, Causes of the Great Depression - Marxist theories of the Great Depression, Causes of the Great Depression - Ideological perspectives on the causes of the Great Depression, Causes of the Great Depression - Socialist and communist perspectives, Causes of the Great Depression - Liberal perspectives, Causes of the Great Depression - Anarcho-capitalist perspectives, Causes of the Great Depression - Political Perspectves on Causes and Cures, Causes of the Great Depression - The New Deal and Keynesian economics, Causes of the Great Depression - The recession of 1937 and recovery

Read more here: » Causes of the Great Depression: Encyclopedia II - Causes of the Great Depression - Ideological perspectives on the causes of the Great Depression

In Marxist economic theory, the Great Depression represented a "crisis," a term that has a specific meaning in this context: namely, when basic underlying contradictions in the mode of production and distribution make a particular set of arrangements untenable. A simple example of a crisis is if an economy needs more and more skilled workers, but reduces wages continually so that people have less and less ability to become educated. At the point where there are no skilled workers to be had, there is a crisis of production. In classical econo ...

See also:

Causes of the Great Depression, Causes of the Great Depression - Orthodox economics, Causes of the Great Depression - Credit disruption theories, Causes of the Great Depression - A misdistribution of purchasing power, Causes of the Great Depression - The Federal Reserve and the money supply, Causes of the Great Depression - A lack of diversification, Causes of the Great Depression - Postwar deflationary pressures, Causes of the Great Depression - The credit structure, Causes of the Great Depression - The breakdown of international trade, Causes of the Great Depression - Cyclical theories, Causes of the Great Depression - Long cycle theories, Causes of the Great Depression - Sunspots, Causes of the Great Depression - Marxist theories of the Great Depression, Causes of the Great Depression - Ideological perspectives on the causes of the Great Depression, Causes of the Great Depression - Socialist and communist perspectives, Causes of the Great Depression - Liberal perspectives, Causes of the Great Depression - Anarcho-capitalist perspectives, Causes of the Great Depression - Political Perspectves on Causes and Cures, Causes of the Great Depression - The New Deal and Keynesian economics, Causes of the Great Depression - The recession of 1937 and recovery

Read more here: » Causes of the Great Depression: Encyclopedia II - Causes of the Great Depression - Marxist theories of the Great Depression

One entire family of theories of the Great Depression argues that the inherent cyclical nature of capitalist economics creates the potential for massive downturns if a series of cyclical factors align. First advanced by Joseph Schumpeter in the 1930s, cyclical theories can be divided into real interest credit cycles, some making use of Austrian economics, and exogenous cycles, which focus on the exogenous causes, or, to put it another way, the Great Depression was the result of self-fulfilling prophecies: namely a drop in confidence. See also:

Causes of the Great Depression, Causes of the Great Depression - Orthodox economics, Causes of the Great Depression - Credit disruption theories, Causes of the Great Depression - A misdistribution of purchasing power, Causes of the Great Depression - The Federal Reserve and the money supply, Causes of the Great Depression - A lack of diversification, Causes of the Great Depression - Postwar deflationary pressures, Causes of the Great Depression - The credit structure, Causes of the Great Depression - The breakdown of international trade, Causes of the Great Depression - Cyclical theories, Causes of the Great Depression - Long cycle theories, Causes of the Great Depression - Sunspots, Causes of the Great Depression - Marxist theories of the Great Depression, Causes of the Great Depression - Ideological perspectives on the causes of the Great Depression, Causes of the Great Depression - Socialist and communist perspectives, Causes of the Great Depression - Liberal perspectives, Causes of the Great Depression - Anarcho-capitalist perspectives, Causes of the Great Depression - Political Perspectves on Causes and Cures, Causes of the Great Depression - The New Deal and Keynesian economics, Causes of the Great Depression - The recession of 1937 and recovery

Read more here: » Causes of the Great Depression: Encyclopedia II - Causes of the Great Depression - Cyclical theories

There are multiple competing interpretations about what caused the Great Depression. The debate is important because the public and policy makers ever since 1929 have demanded that such a disaster never again happen, so it is imperative to explain why. Economist have not agreed on what caused the depression or what prolonged it. The political interpretations especially important in the USA are as follows: Roosevelt and most of the New Dealers primarily blamed the excesses of big business for causing an unstable bubble-l ...

See also:

Causes of the Great Depression, Causes of the Great Depression - Orthodox economics, Causes of the Great Depression - Credit disruption theories, Causes of the Great Depression - A misdistribution of purchasing power, Causes of the Great Depression - The Federal Reserve and the money supply, Causes of the Great Depression - A lack of diversification, Causes of the Great Depression - Postwar deflationary pressures, Causes of the Great Depression - The credit structure, Causes of the Great Depression - The breakdown of international trade, Causes of the Great Depression - Cyclical theories, Causes of the Great Depression - Long cycle theories, Causes of the Great Depression - Sunspots, Causes of the Great Depression - Marxist theories of the Great Depression, Causes of the Great Depression - Ideological perspectives on the causes of the Great Depression, Causes of the Great Depression - Socialist and communist perspectives, Causes of the Great Depression - Liberal perspectives, Causes of the Great Depression - Anarcho-capitalist perspectives, Causes of the Great Depression - Political Perspectves on Causes and Cures, Causes of the Great Depression - The New Deal and Keynesian economics, Causes of the Great Depression - The recession of 1937 and recovery

Read more here: » Causes of the Great Depression: Encyclopedia II - Causes of the Great Depression - Political Perspectves on Causes and Cures

Recessions are mostly caused by external economic shocks, or the unwinding of major imbalances in the economy. The latter mechanism is based substantially on the role of consumer confidence and business confidence, which are important for example for individuals and organizations to decide whether their current investment or debt levels are excessive (or sufficient). A wave of bad news (eg job losses at a big company) may lead enough people to worry about the future, increase their saving and reduce their spending, so that further bad news i ...

See also:

Recession, Recession - Headline text, Recession - Depression

Read more here: » Recession: Encyclopedia II - Recession - Headline text

Neoliberalism is a term used to describe a variety of movements away from state control or protection of the economy, particularly beginning in the 1970s. The term neoliberalism is not the only one for this movement, many supporters argue that it is simply "liberalism," while critics (along with some supporters) often label it Thatcherism (United Kingdom), Reaganomics (United States of America), Economic Rationalism (Australia), Rogernomics (New Zealand) or Manmohanomics (India). Because of close association between this philosophy and neoclassical economics, and confusion with the ambiguous term "liberal," some ...

See also:

Neoliberalism, Neoliberalism - Background, Neoliberalism - Brief history, Neoliberalism - Theory, Neoliberalism - Practice, Neoliberalism - Who is a neoliberal?, Neoliberalism - Alternate definitons of neoliberalism

Read more here: » Neoliberalism: Encyclopedia II - Neoliberalism - Background

Liberalism - Origins of liberal thought. The focus on "liberty" as an essential right of people within the polity has been repeatedly asserted throughout history. Mentioned above are the conflicts between the plebeians and patricians in ancient Rome and the struggles of Italian city states against the Papal States. The republics of Florence and Venice had forms of elections, the rule of law, and pursuit of free enterprise through much of the 1400s until domination by outside powers in the 16th century. The Dutch ...

See also:

Liberalism, Liberalism - The nature and origins of liberalism, Liberalism - Etymology and historical usage, Liberalism - Trends within liberalism, Liberalism - Comparative influences, Liberalism - Development of liberal thought, Liberalism - Origins of liberal thought, Liberalism - Revolutionary liberalism, Liberalism - Disputes within liberalism, Liberalism - Liberalism and the great depression, Liberalism - Liberalism against totalitarianism, Liberalism - Liberalism after World War II, Liberalism - The impact of liberalism in the modern world, Liberalism - Contemporary liberalism, Liberalism - A general overview of political positions, Liberalism - Political deviances, Liberalism - Comparative critiques, Liberalism - Liberal conservatism, Liberalism - Liberal international relations theory, Liberalism - Neoliberalism, Liberalism - Further reading on liberalism

Read more here: » Liberalism: Encyclopedia II - Liberalism - Development of liberal thought

Liberalism - Origins of liberal thought. The focus on "liberty" as an essential right of people within the polity has been repeatedly asserted throughout history. Mentioned above are the conflicts between the plebeians and patricians in ancient Rome and the struggles of Italian city states against the Papal States. The republics of Florence and Venice had forms of elections, the rule of law, and pursuit of free enterprise through much of the 1400s until domination by outside powers in the 16th century. The Dutch ...

See also:

Liberalism, Liberalism - The nature and origins of liberalism: an overview, Liberalism - Etymology and historical usage, Liberalism - Trends within liberalism, Liberalism - Comparative influences, Liberalism - Development of liberal thought, Liberalism - Origins of liberal thought, Liberalism - Revolutionary liberalism, Liberalism - Disputes within liberalism, Liberalism - Liberalism and the great depression, Liberalism - Liberalism against totalitarianism, Liberalism - Liberalism after World War II, Liberalism - The impact of liberalism in the modern world, Liberalism - Contemporary liberalism, Liberalism - A general overview of political positions, Liberalism - Political deviances, Liberalism - Comparative critiques, Liberalism - Liberal conservatism, Liberalism - Neoliberalism, Liberalism - Further reading on liberalism

Read more here: » Liberalism: Encyclopedia II - Liberalism - Development of liberal thought

Joseph Schumpeter - The History of Economic Analysis. Schumpeter's vast erudition is apparent in his posthumous History of Economic Analysis, although some of his judgments seem quite idiosyncratic and sometimes cavalier. For instance, Schumpeter thought that the greatest 18th century economist was Turgot, not Adam Smith, as many consider. Some of these judgments are partly explained by his opinion that there is one general system of economic analysis, and Léon Walras found it. Other economists are rated ...

See also:

Joseph Schumpeter, Joseph Schumpeter - Early Life, Joseph Schumpeter - Most important work, Joseph Schumpeter - The History of Economic Analysis, Joseph Schumpeter - Business cycles, Joseph Schumpeter - Schumpeter and Keynesianism, Joseph Schumpeter - Schumpeter Capitalism and why it can't work, Joseph Schumpeter - His Legacy

Read more here: » Joseph Schumpeter: Encyclopedia II - Joseph Schumpeter - Most important work

The World Depression of 1929-33 broke at a time when the United Kingdom was still far from having recovered from the effects of the First World War more than a decade earlier. A major cause of the international financial instability, which preceded and accompanied the Great Depression, was the debt which many European countries had accumulated to pay for their involvement in the war. This debt destabilis ...

See also:

Great Depression in the United Kingdom, Great Depression in the United Kingdom - Background, Great Depression in the United Kingdom - The Gold Standard, Great Depression in the United Kingdom - Economic Crisis and the Labour government 1929-1931, Great Depression in the United Kingdom - The National Government, Great Depression in the United Kingdom - Emergency measures, Great Depression in the United Kingdom - Britain in the 1930s: a nation divided, Great Depression in the United Kingdom - The South and the Midlands, Great Depression in the United Kingdom - The north and other industrial areas, Great Depression in the United Kingdom - The welfare state during the 1930s, Great Depression in the United Kingdom - Slow recovery, Great Depression in the United Kingdom - Rearmament and recovery, Great Depression in the United Kingdom - Consequences of the great depression, Great Depression in the United Kingdom - Notes

Read more here: » Great Depression in the United Kingdom: Encyclopedia II - Great Depression in the United Kingdom - Background

Within the book, the authors examine briefly many different nations and regions, and their economic development since WWII (in the case of industrialized countries, they often begin before the war). While they admit that the book cannot touch on every single aspect (Yergin remarks that the topic of their book constitutes an entire new academic discipline), they nonetheless make some of the following assertations. Commanding Heights: The Battle for the World Econom ...

See also:

Commanding Heights: The Battle for the World Economy, Commanding Heights: The Battle for the World Economy - Overview, Commanding Heights: The Battle for the World Economy - International Analysis, Commanding Heights: The Battle for the World Economy - United States, Commanding Heights: The Battle for the World Economy - England/United Kingdom, Commanding Heights: The Battle for the World Economy - Russia/Soviet Union, Commanding Heights: The Battle for the World Economy - Germany, Commanding Heights: The Battle for the World Economy - India, Commanding Heights: The Battle for the World Economy - South America, Commanding Heights: The Battle for the World Economy - Other Countries, Commanding Heights: The Battle for the World Economy - Controversy, Commanding Heights: The Battle for the World Economy - Documentary

Read more here: » Commanding Heights: The Battle for the World Economy: Encyclopedia II - Commanding Heights: The Battle for the World Economy - International Analysis

In the early modern period, European nations began conceiving of the idea that economies could "grow", that is produce a greater surplus of value which could be expended on something other than mere subsistence. This surplus could then be used for consumption, warfare, or civic and religious projects. The previous view was that only increasing either population or tax rates could generate more surplus money. In the mercantile period, growth was seen as an increase in the total amount of specie, that is circulating medium such as silve ...

See also:

Growth theory, Growth theory - Origins of the concept of Economic Growth, Growth theory - The Question of Growth, Growth theory - The limits to growth, Growth theory - External link

Read more here: » Growth theory: Encyclopedia II - Growth theory - Origins of the concept of Economic Growth

The classic liberal philosophy places a particular emphasis on the sovereignty of the individual, with private property rights being seen as essential to individual liberty. It forms the philosophy underpinning of the laissez-faire philosophy. The precepts of classic liberalism were probably best described by John Locke and Adam Smith, and illuminated much of the thought at the time of the American revolution. As a result, the United States Constitution and the United States Declaration of Independence are both documen ...

See also:

Classical liberalism, Classical liberalism - Introduction, Classical liberalism - Origins, Classical liberalism - Classical liberal philosophy, Classical liberalism - Liberalism and the great depression, Classical liberalism - Liberalism against totalitarianism, Classical liberalism - Classical liberalism versus 'modern' or social liberalism

Read more here: » Classical liberalism: Encyclopedia II - Classical liberalism - Introduction

Marx's immensely rich and varied politico-theoretical preoccupations were initially influenced by his contact with Hegelian philosophy. Hegel proposed a form of idealism in which the progress of freedom is the guiding theme of human history. Freedom progresses by the development of ideas into their contraries. That is, material circumstances in the world are dictated by series of conflicts and subsequent compromises between ideas. Hegel believed that for every thesis in the history of humanity there arises a antithesis to counter it. In the ...

See also:

Marxism, Marxism - The Hegelian roots of Marxism, Marxism - The political-economy roots of Marxism, Marxism - The liberal challenge, Marxism - Class analysis, Marxism - Marxist revolutions and governments, Marxism - Marx's views on the structure of communist society, Marxism - The October Revolution, Marxism - Criticisms, Marxism - Other articles about Marxism

Read more here: » Marxism: Encyclopedia II - Marxism - The Hegelian roots of Marxism