上世纪的美国大萧条有多惨？不是没钱了，而是钱突然没意义了

Core Viewpoint - The Great Depression was not just an economic downturn but a significant global crisis that originated in the United States and affected the entire capitalist world, prompting ongoing research by economists to prevent future occurrences [1] Group 1: Causes of the Great Depression - The stock market crash on October 29, 1929, was a critical event, with $14 billion evaporating in one day, equivalent to 29% of the U.S. GDP at that time [3] - Deeper issues such as insufficient total demand and extreme wealth inequality were already present, exacerbated by the rigid adherence to the gold standard, which limited countries' ability to respond flexibly to crises [5] - The implementation of the Smoot-Hawley Tariff Act in 1930 led to a significant increase in tariffs on over 20,000 imported goods, resulting in a global trade contraction of more than 25% [7] Group 2: Impact on Society - The Great Depression caused severe societal damage, with unemployment rates reaching 25%, meaning one in four workers was without food, and 15 million people lost their jobs [9] - The crisis created a sense of despair among the populace, particularly affecting marginalized groups, leading to a pervasive feeling of abandonment and hopelessness [9] Group 3: Government Response - Traditional market self-correction theories failed during the crisis, leading to worsening conditions until President Roosevelt's New Deal, which involved government intervention as a major consumer and employer [11] - Countries that abandoned the gold standard earlier, such as the UK and Japan, experienced quicker economic recovery compared to those that delayed, highlighting the importance of policy flexibility during crises [13] Group 4: Lessons Learned - The core lesson from the Great Depression emphasizes the need for governments to adopt expansionary macroeconomic policies during systemic crises and the importance of international cooperation over isolationism [14] - Roosevelt's assertion that the government would take responsibility for increasing spending if others would not encapsulates the critical learning from this global nightmare [14]