1870 ⟶ The Long Depression Begins

1870–1890: Long Depression in Western Europe and North Ameri...
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Year
1870
1873
1948
1973

📉 The Long Depression Begins

1870–1890: Long Depression in Western Europe and North America.⟶
The Long Depression Begins (1870)
DepressionEconomic CrisisGlobal EconomyIndustrial RevolutionCapitalismTradeRecession
United StatesUnited StatesUnited KingdomUnited KingdomGermanyGermanyFranceFranceCanadaCanadaItalyItalyAustria-HungaryAustria-Hungary

📉 Panic of 1873 Triggers Long Depression

The Panic of 1873 starts the "Long Depression".⟶
Panic of 1873 Triggers Long Depression (1873)
Economic CrisisDepressionStock Market CrashIndustrializationGilded AgeBankingGlobal Economy
United StatesUnited StatesGermanyGermanyAustria-HungaryAustria-Hungary

💰 Marshall Plan Officially Begins

April 3: The Marshall Plan, an American initiative for foreign aid of $13 billion to 16 Western European countries, comes into effect.⟶
Marshall Plan Officially Begins (1948)
Cold WarPost-World War IIReconstructionForeign PolicyContainmentCapitalism
United StatesUnited StatesAustriaAustriaBelgiumBelgiumDenmarkDenmarkFranceFranceGermanyGermanyGreeceGreeceIcelandIcelandIrelandIrelandItalyItalyLuxembourgLuxembourgNetherlandsNetherlandsNorwayNorwaySwedenSwedenSwitzerlandSwitzerlandTurkeyTurkeyUnited KingdomUnited Kingdom

📉 Global Recession Begins

1973–1975 recession begins.⟶
Global Recession Begins (1973)
RecessionEconomic CrisisStagflationOil CrisisInflationOPECGlobal EconomyInternational Trade
United StatesUnited StatesUnited KingdomUnited KingdomGermanyGermanyJapanJapanCanadaCanadaFranceFranceItalyItaly