Recession of 1937

(noun)

The Recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States.

Related Terms

Examples of Recession of 1937 in the following topics:

  • Reaction and Recession

    • The Recession of 1937–1938 was an economic downturn that occurred during the Great Depression.
    • While the severity of the recession paled in comparison to the severity of the most dramatic moments of the Great Depression, historians and economists note that the 1937-38 downturn was one of the most severe crises in U.S. history.
    • In the months of the 1937-38 recession, the trends reserved rapidly.
    • Furthermore, some earlier efforts of the Roosevelt administration coincided with the 1937-38 recession.
    • Manufacturing employment in the United States from 1920 to 1940, with a drop between 1937 and 1938 during the Recession of 1937-38.

  • Continuing Hardships

    • In 1937 the economy went into a recession, causing unemployment to grow and productivity to drop again.
    • However, in 1937, the economy went into a recession, causing unemployment to grow and productivity to drop again.
    • The Recession of 1937–1938 saw a reversal of some of the progress that had been made and the persistence of economic hardship for many.
    • By the spring of 1937, production, profits, and wages had regained their 1929 levels.
    • Identify the New Deal policies enacted to combat the recession of 1937

  • The Last of the New Deal Reforms

    • The Third New Deal usually refers to the period around and following the Recession of 1937-38 with some pointing to the the 1939 Reorganization Act (which allowed the President to reorganize the executive branch) as the end of the final phase of the New Deal.  
    • Still in the midst of the Great Depression, the U.S. economy entered another period of economic downturn in the spring of 1937, which continued through most of 1938.
    • The Roosevelt administration was under assault and the President's opponents even referred to the crisis as the Roosevelt Recession.
    • In 1937, Roosevelt appointed Robert Jackson as the aggressive new director of the Antitrust Division of the Justice Department.
    • In the aftermath of the failure of the 1937 court-packing plan and the 1938 election, the bi-partisan Conservative Coalition solidified and strengthened in Congress and many liberal proposals were defeated.

  • Resistance to Business Reform

    • The so-called Roosevelt Recession that began in 1937 provided fresh fuel for business and political opponents of the New Deal.
    • It also criticized the fact that instead of providing "rules of conduct," NIRA authorized the creation of codes (containing "rules of conduct") without outlining any specific standards.
    • The increasing power of labor unions and the rights of all workers, both unionized and non-unionized, to negotiate their terms of employment caused rather expected anxiety among employers.
    • Jones & Laughlin Steel Corporation (1937).
    • While organized labor largely lauded NLRA, the American Federation of Labor accused NLRB of favoring practices employed by the Congress of Industrial Organizations (CIO).

  • Legislative Achievements of the Second New Deal

    • As a response to the the Supreme Court striking down many pieces of Roosevelt's New Deal legislation, Roosevelt attempted to pack the court via the Judicial Procedures Reform Bill of 1937.
    • Beginning with a set of decisions in March, April, and May, 1937, however, the Court would sustain a series of New Deal legislation.
    • Between 1933 and 1937, the U.S. economy improved slowly but surely.
    • Total personal income of Americans rose from $38 billion in 1933 to $70 billion in 1937.
    • In the months between his second inauguration and September of 1937, Roosevelt ordered a reduction in federal spending on emergency employment projects.

  • Japanese Incursions into China

    • The last of these incidents was the Marco Polo Bridge Incident of 1937, which marked the beginning of total war between the two countries.
    • From 1937 to 1941, China fought Japan with some economic help from Germany, the Soviet Union (1937–1940), and the United States.
    • It also made up more than 50% of the casualties in the Pacific War if the 1937–1941 period is taken into account.
    • However, the Chinese nationalist government mobilized the army and air force to attack Japanese Marines in Shanghai on August 13, 1937, which led to the Battle of Shanghai.
    • Historians estimate up to 300,000 Chinese were mass murdered in the Nanking Massacre (also known as the "Rape of Nanking") after the fall of Nanking on December 13, 1937, while some Japanese deny the existence of a massacre .

  • The Recession

    • Bush's administration in the early 1990s, the United States entered into a mild recession that lasted for six months.
    • The economies of much of Europe and Japan were also hurt but not as badly.
    • The first burst of the recession was short-lived, as fervent pre-election activity by the governments of the United States and Canada created what many economists at the time saw as an economic miracle: a growing consumer confidence and increased consumer spending almost single-handedly lifted the North American economy out of recession.
    • Bush in the United States may have been aided by the brief recovery of 1988, he could not hold on to power through the last part of the recession.
    • This graph illustrates the GDP growth (at annualized rates) in the United States between 1989 and 1992, showing the 1990-91 recession.

  • Opposition from the Courts

    • The Judicial Procedures Reform Bill of 1937 was an initiative proposed by President Roosevelt to add more justices to the U.S.
    • The Judicial Procedures Reform Bill of 1937, frequently called the "court-packing plan," was a legislative initiative proposed by President Roosevelt to add more justices to the U.S.
    • The legislation was unveiled on February 5, 1937 and was the subject, on March 9, 1937, of one of Roosevelt's Fireside chats.
    • However, since Roberts's decision and vote in the Parrish case predated the introduction of the 1937 bill, this interpretation has been called into question.
    • The effect of this decision radiated outward, affecting other doctrinal methods of analysis in wage regulation, labor, and the power of the U.S.

  • Peacetime Economy

    • The postwar transition to a peacetime economy saw strikes and a recession, but the economy fared much better than expected.
    • The decline in government spending, at the end of World War II in 1945, led to an enormous drop in gross domestic product, making this technically a recession.
    • The post-war years were unusual in a number of ways, unemployment was never high, and this era may be considered a "sui generis end-of-the-war recession," or a very unique type of recession.
    • Three years later, the 1948 recession became a brief economic downturn.
    • Although no recession of the post-World War II era has come anywhere near the depth of the Great Depression, this graph shows that the recession during the transition to a peacetime economy during the Truman administration was significant.

  • Court Packing

    • The Judicial Procedures Reform Bill of 1937, commonly referred to as "the court-packing plan," was proposed by FDR to gain political control over the US Supreme Court.
    • Biggs resigned in early 1935 and while his successor Stanley Forman Reed initially faced serious challenges, by 1937 his repeated legal victories earned him the reputation of one of the most effective Solicitors General.
    • In February 1937, Roosevelt introduced the Judicial Procedures Reform Bill, frequently called the "court-packing plan."
    • By 1937, an informal yet strong group of congressmen and representatives opposing the New Deal formed in Congress.
    • In 1937, the Court upheld the constitutionality of the National Labor Relations Act by changing its earlier interpretation of to what extent Congress could interfere in interstate commerce.