Status Updates From Basic Economics: A Common S...
Basic Economics: A Common Sense Guide to the Economy by
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Micah Kennedy
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After the stock market crash in October of 1929, the unemployment rate peaked at 9% two months after the crash, then gradually decreased to 6.3% in June 1930.
Then, after a series of major unprecedented government interventions, the unemployment rate soared over 20% for 35 consecutive months.
Interventions started with Hoover, continued by FDR.
Interesting thought: sometimes best to let economy recover itself.
— Aug 02, 2025 08:03AM
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Then, after a series of major unprecedented government interventions, the unemployment rate soared over 20% for 35 consecutive months.
Interventions started with Hoover, continued by FDR.
Interesting thought: sometimes best to let economy recover itself.
