Economics
- The Great Depression occurred during the 1930s.
- Economic interventionist policies increase in popularity as a result of the Great Depression in both authoritarian and democratic countries. In the Western world, Keynesianism replaces classical economic theory.
- Rapid industrialization takes place in the Soviet Union.
- Prohibition in the United States finally ended in 1933. On December 5, 1933, the ratification of the Twenty-first Amendment repealed the Eighteenth Amendment to the United States Constitution.
Read more about this topic: 1930s
Famous quotes containing the word economics:
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)