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The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1]
In January of 1920, when postwar industrial production reached its zenith, the promised downturn began to take hold. Production fell by 32.5% over the following year, a decline second only to the Great Depression in American economic history and occurring over a shorter span.
Jul 15, 2021 · Great Recession. Inflation. Recession. Roaring 20s. John Phelan. In July 1921, the United States emerged from a depression. Though the economic statistics of the time were rudimentary by modern standards, the numbers confirm that it had been bad. By one estimate, output fell by 8.7 percent in real terms.
In the Forgotten Depression, Grant examines what he calls “the recession that cured itself,” the short, sharp depression of 1920-21. In that downturn, the Wilson and Harding administrations and the Federal Reserve both followed policies contrary to current wisdom. Interest rates were raised and spending was cut.
The Depression of 1920–21 was a sharp deflationary recession in the United States and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. The extent of the deflation was not only large, but large relative to the accompanying decline in real product.
Jul 16, 2021 · What caused the crash of 1920-1921? Why was it so short? And why was the economic recovery so vigorous? Boom to bust. When World War I broke out in 1914, demand for American products soared. Combatant nations began running trade deficits, importing much more from the U.S. than they exported to it. They sent gold to cover their deficits.
Oct 8, 2014 · Yet the very opposite policies were followed during the depression of 1920–21, and recovery was in fact not long in coming. The economic situation in 1920 was grim. By that year unemployment had jumped from 4 percent to nearly 12 percent, and GNP declined 17 percent.
