Undeniable Facts: Difference between revisions
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From 1929 to 1933, real output fell by about 30%. | From 1929 to 1933, real output fell by about 30%. | ||
From 1929 to 1933, unemployment rose from about 3% to about 25%. | From 1929 to 1933, unemployment rose from about 3% to about 25%. | ||
From 1929 to 1933, the dollar deflated on average 10% per year. | From 1929 to 1933, the dollar deflated on average 10% per year. | ||
From 1929 to 1933, the money supply fell by about 30%. | From 1929 to 1933, the money supply fell by about 30%. | ||
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From 1973 to 1975, real output fell by about 3.4%. | From 1973 to 1975, real output fell by about 3.4%. | ||
From 1973 to 1975, unemployment rose from around 4% to 9%. | From 1973 to 1975, unemployment rose from around 4% to 9%. | ||
Latest revision as of 05:15, 29 November 2006
From 1929 to 1933, real output fell by about 30%.
From 1929 to 1933, unemployment rose from about 3% to about 25%.
From 1929 to 1933, the dollar deflated on average 10% per year.
From 1929 to 1933, the money supply fell by about 30%.
To put this in perspective we can look at another deflationary episode in American history.
From 1973 to 1975, real output fell by about 3.4%.
From 1973 to 1975, unemployment rose from around 4% to 9%.
