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The Great Depression fundamentally altered economic thinking by challenging classical economic theories that emphasized self-regulating markets and minimal government intervention. Economists like John Maynard Keynes advocated for active government involvement to manage economic cycles, leading to the development of Keynesian economics. This shift emphasized the importance of aggregate demand in driving economic growth and highlighted the role of fiscal and monetary policy in mitigating recessions. The crisis also spurred a reevaluation of economic policies, leading to the establishment of social safety nets and regulatory frameworks that aimed to stabilize the economy.
What else can I help you with?
What is an example economic depression?
The Great Depression
In the 1930's the US went into a severe economic state known as the?
The Great Depression
causes of economic agent conflict?
Great Depression
What 1929 event aggravated the economic decline in the US?
the Great Depression
Which countries had economic growth during the great depression?
soviet union
WHAT IS AN ECONOMIC DEPRESSION?
The Great Depression
What is an example economic depression?
The Great Depression
What has the author Michael A Bernstein written?
Michael A. Bernstein has written: 'The Great Depression : Delayed Recovery and Economic Change in America, 1929-1939 (Studies in Economic History and Policy : The United States in The)' 'The Great Depression'
What is the worst period of economic hardship in US history?
Great Depression
How are the great depression and the great recession the same?
They arent man you arent thinking the same thing the depression is worse man dude dude dude dude you are thinking of the depression and the crash in the government7
In the 1930's the US went into a severe economic state known as the?
The Great Depression
Where is the setting of the Great Depression?
Mainly the United States of Americabut The Great Depression was a world-wide economic crisis.
causes of economic agent conflict?
Great Depression
How did government economic policies during the 1920 lead to the great depression?
Government Economic policies did not lead to the great Depression. The Great Depression started out as a normal recession as part of a business cycle. However, bad government policies (e.g. protectionism) has worsened the recession and turned it into what we now know as the Great Depression.
How did government economic policies during the 1920s lead to the Great Depression?
Government Economic policies did not lead to the great Depression. The Great Depression started out as a normal recession as part of a business cycle. However, bad government policies (e.g. protectionism) has worsened the recession and turned it into what we now know as the Great Depression.
In which year was the peak of the great depression?
It was in the 1930 during which there was a severe world wide economic depression.
What was the grim economic state of the 1930s named?
The great depression
