Recovery efforts were slow from "summary" of The Great Crash 1929 by John Kenneth Galbraith
The efforts to recover from the economic collapse of 1929 were characterized by a frustrating lack of speed. There was a pervasive sense of sluggishness in the attempts to revive the economy and restore confidence in the financial system. One of the key reasons for this sluggishness was the prevailing belief that the market would eventually correct itself without the need for significant intervention. Additionally, the government's response to the crisis was marked by hesitation and indecision. There was a reluctance to take bold and decisive action to address the root causes of the crash. Instead, policymakers opted for incremental measures that were perceived as too little, too late. This lack of urgency further impeded the recovery ef...
Similar Posts
Investment banks assist in corporate finance and underwriting services
Investment banks play a crucial role in assisting corporations with their financial needs. One of the key services they provide...
Have a plan for managing financial hardship
In turbulent financial times, it is crucial to have a well-thought-out plan for managing potential hardships. This plan should ...
Effective demand critical in economic policy
Effective demand plays a crucial role in the formulation and implementation of economic policy. It is the driving force behind ...
The Federal Reserve manages the US money supply
The Federal Reserve, often simply referred to as the Fed, plays a crucial role in the United States economy by overseeing and i...
Changes in government spending affect aggregate demand
Changes in government spending have a significant impact on the overall demand in the economy. When the government decides to i...
2008 financial crisis
The financial crisis of 2008 was a calamity of epic proportions that shook the very foundations of the global economy. It was a...
Public anger towards the banks
The public's anger towards the banks was palpable in the wake of the financial crisis. People across the country felt a deep se...
The effectiveness of monetary policy depends on the credibility of policymakers
The credibility of policymakers is essential for the effectiveness of monetary policy. When policymakers are perceived as credi...