Loading subject…
Economic depression
A period of prolonged high unemployment and low investment in economic activity, more severe and longer-lasting than a recession.
Gold standard
A monetary system in which the value of money is tied to the value of gold. A country must hold the same value of gold as it has money in circulation. This limits how much money can be printed and helps prevent inflation, but also restricts economic flexibility.
Protectionist trade policies
Policies and actions taken by a government (such as tariffs or taxes on imports) designed to decrease imports into a country. Intended to protect domestic industries and jobs by making imported goods more expensive than domestically produced goods.