The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in 1930 after the passage of the Smoot-Hawley Tariff bill (June 17), and lasted until the late 1930s or early 1940s. It was the longest, most widespread, and deepest depression of the 20th century.
In the 21st century, the Great Depression is commonly used as an example of how far the world's economy can decline. The depression originated in the U.S., after the fall in stock prices that began around September 4, 1929 and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday).
The Great Depression had devastating effects in countries rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%, due in large part to the Smoot-Hawley Tariff. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%.
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and author who taught at the University of Chicago for more than three decades. He was a recipient of the Nobel Memorial Prize in Economic Sciences, and is known for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. As a leader of the Chicago school of economics, he influenced the research agenda of the economics profession. A survey of economists ranked Friedman as the second most popular economist of the twentieth century behind John Maynard Keynes, and The Economist described him as "the most influential economist of the second half of the 20th century…possibly of all of it."
Friedman's challenges to what he later called "naive Keynesian" (as opposed to New Keynesian) theory began with his 1950s reinterpretation of the consumption function, and he became the main advocate opposing activist Keynesian government policies. In the late 1960s he described his own approach (along with all of mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions. During the 1960s he promoted an alternative macroeconomic policy known as "monetarism". He theorized there existed a "natural" rate of unemployment, and argued that governments could increase employment above this rate (e.g., by increasing aggregate demand) only at the risk of causing inflation to accelerate. He argued that the Phillips curve was not stable and predicted what would come to be known as stagflation. Friedman argued that, given the existence of the Federal Reserve, a constant small expansion of the money supply was the only wise policy.
Paul Craig Roberts (born April 3, 1939) is an American economist and a columnist for Creators Syndicate. He served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as a co-founder of Reaganomics. He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service who has testified before congressional committees on 30 occasions on issues of economic policy.
Roberts is a critic of Israel, calling Gaza "the world's largest concentration camp" populated by people who were "driven out of Palestine so that Israel could steal their land." Roberts has been a critic of both Democratic and Republican administrations. Although Roberts praised Ronald Reagan, he has compared supporters of George W. Bush to "brownshirts with the same low intelligence and morals as Hitler's enthusiastic supporters." He has opposed the War on Drugs and the War on Terror stating it has "made widows and orphans of millions of Muslims". He believes the official explanation for the events on 9/11 is a "scientific impossibility".
Craig Roberts (born 25 January 1991) is a Welsh actor. He is best known for playing the lead role of Oliver Tate in the coming-of-age comedy-drama film Submarine, and for playing the character Rio in The Story of Tracy Beaker.
Roberts was born in Maesycwmmer, Caerphilly, Wales.
He has appeared as the vampire fanatic Robin Branagh, in two seasons of the television show Young Dracula. He has also appeared in Care and Casualty.
Roberts appeared in the pantomime 'Snow White' in Worthing, where he played the evil queen's sidekick 'Drax' in January 2009. In 2008 he worked with Y Touring Theatre Company where he played the part of 'Ryan' in a UK national tour of 'Full Time' which was a play that explores issues of racism, sexism and homophobia in football. He also appeared in the BBC Three television show Being Human and the online spin-off series Becoming Human as Adam.
Roberts starred in the 2010 film Submarine which also stars Paddy Considine and Yasmin Paige.
I think we must have all gone mad
Maybe right turned over
They promise us the earth
Instead we've got the great depression
Now you're free and easy with the base
You blame your brothers and sisters
And neurotics say ";sod the rest";
It's the new dissention
Into the abyss
By pushing forwards
It's always down
It's a desperate war
You're trying to blow yourselves up
You don't care who you stand... with the help about
Hey hey - well that's not the way
No sense or reason in your fussing and fighting
And your violent obsession
Who's ever really left feeling fine
After the great depression?
No sense of purpose in the competion
Keeping up with the Jones's
You buy a house,
You buy a car
You buy a marriage and a bed of rosesInto the abyss
By pushing forwards
It's always down
It's a desperate war
You're trying to blow yourselves up
You don't care who you stand ... with the help about
Hey hey - well that's not the way
We are the sons and daughters of a revolution, revolutionaries walking us out of opression and into a
no-low promise land.
and this is leaves us with a great sense of sadness dwelling inside our soul. no one can explain where
its' coming from or where its taking us.
we just know that something is lost, but somehow we are lost, lost
I think we must have all gone mad
Maybe right turned over
They promise us the earth
Instead we've got the great depression
Now you're free and easy with the base
You blame your brothers and sisters
And neurotics say sod the rest
It's the new dissention
Into the abyss
By pushing forwards
It's always down
It's a desperate war
You're trying to blow yourselves up
You don't care who you stand... with the help about
Hey heywell that's not the way
No sense or reason in your fussing and fighting
And your violent obsession
Who's ever really left feeling fine
After the great depression?
No sense of purpose in the competion
Keeping up with the Jones's
You buy a house,
You buy a car
You buy a marriage and a bed of roses
Into the abyss
By pushing forwards
It's always down
It's a desperate war
You're trying to blow yourselves up
You don't care who you stand ... with the help about
Hey hey well
Storm clouds spreading
Black horizons oil slick the southern sky
What prospects should I gather here to motivate my corpse to rise?
Bloodshot
My eyes reject the staleness of this day
And 'reason' gives purpose for all the pills i have to swallow
Driving
My heart is dead and hollow
Metal boxes racing by
Ringing out the death of my life
Machines buzzing
Towers looming the antithesis of nature
Entering this asphalt tomb- self - interest my prime dictator.
Now that i stand to carry the weight - try to conceive me that it's all for something?
Now that i stand to carry the weight
I lie to myself...am i living-dead?
Four walls surround me with wires outstretched- the triumph of time over space
The modus vivendi- each man for himself
Each alone
And each an island
Get me out of this hole somehow...get me out of this hole right now...
We've been working
Like machines for hours now
Since crack of dawn
We have not talked together
I guess the more things change
The more they stay the same
But we've built cities of glass
And we won the wars
You could bleed it, you could feel it
If you go down that road, you will see it
You could fake it, you could break it
If you want me I will never see it
Take it back, just take it back now
That we have come so far
I hate to admit it
But it takes a real man
It takes a real man
To look deep in the jar
Just pull yourself together
We've been riding through the night
For ages now
Since the great depression
We have not slept for a day
I got what you want
But I can't feel what I have
And if you go down that road
I will be right in your tail
You could bleed it, you could feel it
If you go down that road, you will see it
You could fake it, you could break it
If you want me I will never see it
Take it back, just take it back now
That we have come so far
I hate to admit it
But it takes a real man
It takes a real man
To look deep in the jar
Just pull yourself together
Take it back, just take it back now
That we have come so far
I hate to admit it
But it takes a real man
It takes a real man
To look deep in the jar
Just pull yourself together
Take it back, just take it back now
That we have come so far
I hate to admit it
But it takes a real man
It takes a real man
To look deep in the jar
How misunderstood and unsatisfied can you possibly get Negative space - Man what a concept Is this still life Well let's see the spoon is empty the bowl is empty the glass half empty and you are totally full of shit How contrived You cried "wolf" now the monkey shines And the muses are laughing at your art of living It's damn insulting to those who don't have a choice about starving to death When the mind is empty the mouth is always screaming My soul is empty and my heart is screaming, feed me. Now that sounds romantic - oh how romantic Oh how brillant How sad Hw fucking lonely You are your only friend You are your own worst enemy No one is going to hurt you You do that better yourself No one is going to desert you You do that yourself You are the best so better yourself |