Economics
- Economic boom ended by "Black Tuesday" (October 29, 1929); the stock market crashes, leading to the Great Depression. The market actually began to drop on Thursday October 24, 1929 and the fall continued until the huge crash on Tuesday October 29, 1929.
- The New Economic Policy is created by the Bolsheviks in the Russian Soviet Federative Socialist Republic.
- The Dawes Plan, which lasted from 1924 to 1928.
Read more about this topic: 1920s
Famous quotes containing the word economics:
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)