本文发表在 rolia.net 枫下论坛The Onset of America's First Depression
When Martin Van Buren took over the Presidency from his successor, Andrew Jackson, the nation's financial situation seemed to be going fairly well. Jackson had successfully lowered the national debt to its lowest point since 1791 (a trifle $33,733.05), and the economy seemed to be growing rapidly.
By the time Martin Van Buren came to office in 1837, however, the bubble already seemed to be bursting, and within a few months America would be plunged into a depression which would last nearly eight years.
What could have caused such a dramatic downturn?
Natural Cycles
Like America's previous economic downturn, the Panic of 1817, a certain portion of the blame for this depression can be blamed on a naturally cyclical economy. These cycles are known as boom/bust cycles, where the economy grows naturally to a certain point where any more growth is unsustainable, sending the economy into a decline (the exact mechanism behind this is still debated by economists).
While this cycle very well may have played a partin establishing the conditions necessary for a recession to ocurr in 1837, it certainly was not alone.
Read more: http://americanhistory.suite101.com/article.cfm/the_panic_of_1837#ixzz0RIQV3RRE更多精彩文章及讨论,请光临枫下论坛 rolia.net
When Martin Van Buren took over the Presidency from his successor, Andrew Jackson, the nation's financial situation seemed to be going fairly well. Jackson had successfully lowered the national debt to its lowest point since 1791 (a trifle $33,733.05), and the economy seemed to be growing rapidly.
By the time Martin Van Buren came to office in 1837, however, the bubble already seemed to be bursting, and within a few months America would be plunged into a depression which would last nearly eight years.
What could have caused such a dramatic downturn?
Natural Cycles
Like America's previous economic downturn, the Panic of 1817, a certain portion of the blame for this depression can be blamed on a naturally cyclical economy. These cycles are known as boom/bust cycles, where the economy grows naturally to a certain point where any more growth is unsustainable, sending the economy into a decline (the exact mechanism behind this is still debated by economists).
While this cycle very well may have played a partin establishing the conditions necessary for a recession to ocurr in 1837, it certainly was not alone.
Read more: http://americanhistory.suite101.com/article.cfm/the_panic_of_1837#ixzz0RIQV3RRE更多精彩文章及讨论,请光临枫下论坛 rolia.net