annenberg media ♪ annenberg media ♪ for information about this and other annenberg media programs call 1-800-learner and visit us at www.learner.org. annenberg media ♪ one of its major banks, the knickerbocker trust, closes. one man commits suicide. the banking system nearly collapses. what is it about banking that could lead to such a calamity?
annenberg media ♪ annenberg media ♪ st. a frustrated congress wanted to measure the depths of the great depression. as the u.s. entered world war ii, how did a system of accounting become the key to building the american arsenal? by 1970, america was uncovering the negative effects of pollution. should we measure these hidden costs of economic growth? most of us decide how well we're doing economically by what we can afford to buy. can we calculate a nation's economic well-being by adding up those individual measurements? can we compare national figures over time to determine if our economy is making progress? u.s. economic growth-- what is the gross national product? with economic analyst richard gill, we'll explore that question on this edition of economics usa. i'm david schoumacher. these computer tapes at the bureau of economic analysis in washington document 50 years of america's economic growth. they provide access to the accounting system known as gnp. when the united states faced its worst economic crisis, the grea
annenberg media ♪ annenberg media ♪ 1932. the nation is in the depths of depression. 1/4 the work force is idle. income has been cut in half. banks and businesses are toppling. how long can this depression go on? "the depression can last indefinitely," according to british economist john maynard keynes. but is anyone listening? and can government intervention move us out of these terrible times? keynes and roosevelt met only once. each thought the other well meaning but ineffectual. however, they changed the course of the world. what did we learn from the depression? we'll investigate that with the help of economics analyst richard gill on economics usa. hard times. we've seen a lot of them over the years. 1932 and the years that followed were different. the hoover administration tried to popularize the word depression. they thought it a milder word that would soothe the american public. by 1932, hope was about gone. the depression was more than an economic problem. it was human calamity. millions went hungry, some to starvat
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