LYCOS RETRIEVER 
America's Great Depression: 1930S
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Beginning initially in the 1930s... some students of the Great Depression have examined the unusually high level of process innovation in the 1920s and the lack of product innovation in the decade after 1925. The introduction of new production processes requires investment but may well cause firms to let some of their workforce go; by reducing prices, new processes may also reduce the amount consumers spend. The introduction of new products almost always requires investment and more employees; they also often increase the propensity of individuals to consume. The time path of technological innovation may thus explain much of the observed movements in consumption, investment, and employment during the interwar period. There may also be important interactions with the monetary variables discussed above: in particular, firms are especially dependent on bank finance in the early stages of developing a new product.
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The Great Depression was not a sudden collapse. The stock market steadily recovered after the crash of 1908 and recovered to early 1929 levels by the April of 1931. Together, government and business actually spent more in the first half of 1930 than the previous year. However, leery consumers cut back their expenditures by ten percent. Also, a severe drought ravaged the agricultural heartland beginning in the summer of 1930. In the spring of 1931, credit was ample and available at low rates, but people feared for the future and were reluctant to add new debt by borrowing.
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It is the 1930s and the Great Depression has generated poverty that threatens to tear America apart. Fourteen-year-old Molly has nobody to rely on but herself. To survive, she needs to find work. Any kind of work will do. With millions unemployed, Molly decides that the only way to find work is to travel. Riding freight trains in search of a decent meal and a place to live, Molly sees the misery of the Depression firsthand.
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The Great Depression was not a sudden total collapse. The stock market turned upward in early 1930, returning to early 1929 levels by April, though still almost 30 percent below of peak in September 1929. Dow Jones Industrial Average, 1924-1935, chart, accessed July 23, 2007 Together government and business actually spent more in the first half of 1930 than in the corresponding period of the previous year. But consumers, many of whom had suffered severe losses in the stock market the prior year, cut back their expenditures by ten percent, and a severe drought ravaged the agricultural heartland of the USA beginning in the northern summer of 1930.
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Als Great Depression („Große Depression“) bezeichnet man die schwere Wirtschaftskrise in den USA, die am 24. Oktober 1929 mit dem „Schwarzen Donnerstag“ begann und die 1930er Jahre dominierte. Sie war Teil der Weltwirtschaftskrise, im Englischen ist der Begriff auch synonym mit der Weltwirtschaftskrise.
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Economists Harold Cole and Lee Ohanian have emphasized the unusually slow recovery from the Great Depression[2]. After most recessions, productivity and output generally return quickly to normal growth rates. Although output returned to 1929 levels by 1937, it was well below the extrapolation of historical trends, the equivalent of eight years of zero growth. Productivity, by contrast, returned to its usual growth rate by 1936. Good explanations for this slow recovery must explain why labor supply remained well below 1929 levels during the 1930s. Similar studies of other countries[3] find variations in the recovery rate due to different government policies.
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1930S