Long Depression

High school (ages 12+)
History & Culture

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Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/long-depression

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the economic classification?A worldwide price and economic recession, often termed 'deflationary depression'
2. What is the primary period of contraction (US)?October 1873 to March 1879 (65 months)
3. What was the Long Depression and when did it happen?The Long Depression was a big slowdown in the economy that began in 1873 and lasted until 1879, and some people say it went on until 1899.
4. Why did the Long Depression happen?It started after a big financial shock called the Panic of 1873, which made prices drop and factories and farms slow down.

Deflation: A sustained decrease in the general price level of goods and services, increasing the real value of money.
Economic Contraction: A phase in the business cycle characterized by a decline in economic activity, output, and employment.
Panic of 1873: A financial crisis that triggered a severe economic depression in the United States and Europe.
Second Industrial Revolution: A period of rapid industrial development characterized by advancements in steel, electricity, and mass production.