Great Depression and International Monetary Fund

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Difference between Great Depression and International Monetary Fund

Great Depression vs. International Monetary Fund

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

Austerity

Austerity is a political-economic term referring to policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both.

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Balance of payments

The balance of payments, also known as balance of international payments and abbreviated B.O.P. or BoP, of a country is the record of all economic transactions between the residents of the country and of the world in a particular period (over a quarter of a year or more commonly over a year).

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Balanced budget

A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures.

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Business cycle

The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.

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Deficit spending

Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget surplus.

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Deflation

In economics, deflation is a decrease in the general price level of goods and services.

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Developed country

A developed country, industrialized country, more developed country, or "more economically developed country" (MEDC), is a sovereign state that has a highly developed economy and advanced technological infrastructure relative to other less industrialized nations.

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Developing country

A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.

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Dissolution of the Soviet Union

The dissolution of the Soviet Union occurred on December 26, 1991, officially granting self-governing independence to the Republics of the Soviet Union.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Investment

In general, to invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future – for example, investment in durable goods, in real estate by the service industry, in factories for manufacturing, in product development, and in research and development.

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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League of Nations

The League of Nations (abbreviated as LN in English, La Société des Nations abbreviated as SDN or SdN in French) was an intergovernmental organisation founded on 10 January 1920 as a result of the Paris Peace Conference that ended the First World War.

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Monetarism

Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation.

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Neoliberalism

Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism.

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Olivier Blanchard

Olivier Jean Blanchard (born December 27, 1948) is a French economist, professor and Senior Fellow at the Peterson Institute for International Economics.

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Stock market

A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as those only traded privately.

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The Wall Street Journal

The Wall Street Journal is a U.S. business-focused, English-language international daily newspaper based in New York City.

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Time (magazine)

Time is an American weekly news magazine and news website published in New York City.

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United States Department of the Treasury

The Department of the Treasury (USDT) is an executive department and the treasury of the United States federal government.

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World War II

World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.

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