Encyclopedia of American Recessions and Depressions [2 volumes]

Book excerpt: A riveting look at the financial cycles in American economic history from colonial times to the present day, with an eye on the similarities and differences between past and present conditions as analyzed by leading economic historians. The United States has emerged from the financial chaos of its last economic crisis, yet still very few sources place the events of the modern era within the context of financial downturns of the past. An examination of the trends and patterns of previous depressions and recessions may allow us to recognize—and avoid—the behaviors and practices that prolonged the fiscal problems of previous generations. This thought-provoking encyclopedia presents an overview of notable economic events, their causes and cures, and their social and political impact on the nation. Encyclopedia of American Recessions and Depressions offers a comprehensive survey on the topic from the years 1783 to 1789 under the Articles of Confederation through the panics of the 19th century and the Great Depression of the 1930s to the Great Recession of 2008. Written in an accessible, engaging style, the volumes contain 14 detailed essays covering each economic event and 140 entries covering various related individuals, issues, court cases, legislation, and significant events. Primary source documents, including the Specie Circular, the Embargo Act, and the National Labor Relations Act, provide relevancy to the real world and a context for key events.