I keep reading that the Great Depression lasted 16 years. This defies the conventional account of it. Could someone please explain or point to an article that cites the measurements used to determine how long the Depression lasted?
Thanks.
According to wiki.answers.com:
Answer
It didn’t end, really. There were still a lot of problems going on at the time the Japanese bombed Pearl Harbor. It was only after that when we got involved with the war, producing new machinery, airplanes, ammunition, bombs, etc, that the nation became busy, and a lot of new jobs were available. It gave the illusion that we were doing better. There were other problems after the war, but it would take quite a while to try and explain all the ins and outs of what came next.
End of the Great Depression
There is no year that’s agreed upon by all economists.
Some say the Great Depression ended in the late 1930’s. Many say it ended with the end of World War II in 1945.