The great depression of 1929-1934
Citations (1)
- Tragedy and Hope pp. 462-464 · open book
As a matter of fact, this process did not work itself out in any industrial country during the great depression of 1929-1934, because the disparity in the distribution of the national income was so great that a considerable portion of the population would have been driven to zero incomes and absolute want before the savings of the richer segment of the population fell to the level of investment.