How was depression viewed in the 18th and 19th century?
The 18th and 19th Centuries. During the 18th and 19th centuries, also called the Age of Enlightenment, depression came to be viewed as a weakness in temperament which is inherited and cannot be changed, with the resulting idea that people with this condition should be shunned or locked up.
What was the Long Depression in America?
Long Depression. It was the most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War. The episode was labeled the "Great Depression" at the time, and it held that designation until the Great Depression of the 1930s.
What caused the Great Depression of the 1800s?
Some have argued the depression was rooted in the 1870 Franco-Prussian War that hurt the French economy and, under the Treaty of Frankfurt, forced that country to make large war reparations payments to Germany.
How did the Great Depression of 1834-1839 compare to today?
Compared to today, the era from 1834 to the Great Depression was characterized by relatively severe and more frequent banking panics and recessions. In the 1830s, U.S. President Andrew Jackson fought to end the Second Bank of the United States.
Why do people go into depression?
Is depression a mental illness?
About this website
Was there a depression in the early 1800s?
The first major American depression, called the Panic of 1819, was rooted to some extent in economic problems reaching back to the war of 1812. It was triggered by a collapse in cotton prices. A contraction in credit coincided with the problems in the cotton market, and the young American economy was severely affected.
When did the depression start in the 1800s?
The Panic of 1873 triggered the first 'Great Depression' in the United States and abroad. Lasting from September 1873 until 1878/9, the economic downturn then became known as the Long Depression after the stock market crash of 1929. Currency in the nineteenth century was based on specie.
Was there a depression in the 1820s?
The Panic of 1819 was the first widespread and durable financial crisis in the United States that slowed westward expansion in the Cotton Belt and was followed by a general collapse of the American economy that persisted through 1821.
When was the depression of the 1880s?
The Depression of 1882–1885, or Recession of 1882–1885, was an economic contraction in the United States that lasted from March 1882 to May 1885, according to the National Bureau of Economic Research. Lasting 38 months, it was the third-longest recession in the NBER's chronology of business cycles since 1854.
Was the Panic of 1893 worse than the Great Depression?
The Panic of 1893 is the worst economic depression the United States has ever endured. A growing credit shortage created panic, resulting in a depression. Over the course of this depression 15,000 businesses, 600 banks, and 74 railroads failed.
What caused the Panic of 1893?
1894. The Panic of 1893 was a national economic crisis set off by the collapse of two of the country's largest employers, the Philadelphia and Reading Railroad and the National Cordage Company. Following of the failure of these two companies, a panic erupted on the stock market.
What major event happened in 1819?
January 2 – The Panic of 1819, the first major peacetime financial crisis in the United States, begins. January 25 – Thomas Jefferson founds the University of Virginia. January 29 – Sir Stamford Raffles lands on the island of Singapore. February 2 – Dartmouth College v.
What did the Panic of 1819 cause?
In 1819, the impressive post-War of 1812 economic expansion ended. Banks throughout the country failed; mortgages were foreclosed, forcing people out of their homes and off their farms. Falling prices impaired agriculture and manufacturing, triggering widespread unemployment.
Who was the hardest hit by the Panic of 1819?
Especially hard hit were cities outside of New England like Philadelphia, Pittsburgh, and Cincinnati. Farmers suffered too, though many survived by resuming a subsistence lifestyle. With insolvency rife, prisons were overcrowded with debtors. The depression lingered for two years.
What ended the Panic of 1873?
1873 – 1879Panic of 1873 / Period
How long did the depression of 1893 last?
Timing and Depth of the Depression Estimates of annual real gross national product (which adjust for this period's deflation) are fairly crude, but they generally suggest that real GNP fell about 4% from 1892 to 1893 and another 6% from 1893 to 1894.
How long did the Panic of 1893 last?
In the late spring of that year a four-month spasm of financial hysteria known as the Panic of 1893 swept the country.
What did they call depression in the 1800s?
During the 18th and 19th centuries, also called the Age of Enlightenment, depression came to be viewed as a weakness in temperament that was inherited and could not be changed.
What caused the depression of 1819?
The Panic of 1819 and the accompanying Banking Crisis of 1819 were economic crises in the United States of America principally caused by the end of years of warfare between France and Great Britain. These two nations had been at war with each other since the 1680s. They finally settled their differences in 1815.
When did depression start in humans?
The term depression began to appear in the nineteenth century as did the modern concept of affective disorders, with the core disturbance now viewed as one of mood. The 1930s saw the introduction of defined criteria into official diagnostic schemes.
When did the Great Depression start?
August 1929 – 1939The Great Depression / Time periodThe Depression was the longest and deepest downturn in the history of the United States and the modern industrial economy. The Great Depression began in August 1929, when the economic expansion of the Roaring Twenties came to an end. A series of financial crises punctuated the contraction.
When did the depression begin?
In the United States, the Long Depression began with the Panic of 1873. The National Bureau of Economic Research dates the contraction following the panic as lasting from October 1873 to March 1879.
When was the Great Depression?
While it was occurring, the view was prominent that the economy of the United Kingdom had been in continuous depression from 1873 to as late as 1896 and some texts refer to the period as the Great Depression of 1873–1896, with financial and manufacturing losses reinforced by a long recession in the UK agricultural sector.
How did the Long Depression contribute to the revival of colonialism leading to the New Imperialism period?
The Long Depression contributed to the revival of colonialism leading to the New Imperialism period, symbolized by the scramble for Africa, as the western powers sought new markets for their surplus accumulated capital. According to Hannah Arendt 's The Origins of Totalitarianism (1951), the "unlimited expansion of power" followed the "unlimited expansion of capital ".
What caused the 1873 depression?
Monetarists believe that the 1873 depression was caused by shortages of gold that undermined the gold standard, and that the 1848 California Gold Rush, 1886 Witwatersrand Gold Rush in South Africa and the 1896–99 Klondike Gold Rush helped alleviate such crises.
How many businesses went bankrupt in 1873?
In the United States, from 1873 to 1879, 18,000 businesses went bankrupt, including 89 railroads. Ten states and hundreds of banks went bankrupt. Unemployment peaked in 1878, long after the initial financial panic of 1873 had ended. Different sources peg the peak U.S. unemployment rate anywhere from 8.25% to 14%.
What was the cause of the price depression in the United States?
The primary cause of the price depression in the United States was the tight monetary policy that the United States followed to get back to the gold standard after the Civil War. The U.S. government was taking money out of circulation to achieve this goal, therefore there was less available money to facilitate trade.
How long did the Great Depression last?
At 65 months, it is the longest-lasting contraction identified by the NBER, eclipsing the Great Depression's 43 months of contraction.
Where did the word "depression" come from?
The term depression was derived from the Latin verb deprimere, "to press down". From the 14th century, "to depress" meant to subjugate or to bring down in spirits. It was used in 1665 in English author Richard Baker's Chronicle to refer to someone having "a great depression of spirit", and by English author Samuel Johnson in a similar sense in 1753. The term also came into use in physiology and economics .
What is depression known as?
From Wikipedia, the free encyclopedia. Jump to navigation Jump to search. What was previously known as melancholia and is now known as clinical depression, major depression, or simply depression and commonly referred to as major depressive disorder by many health care professionals, has a long history, with similar conditions being described ...
What is Kraepelin's diagnosis of manic depression?
Around 1980, Kraepelin defined the term manic depression, which is also known as bipolar disorder.
What is the theory of depression?
Starting in the 1960s, Aaron Beck developed the theory that depression results from a "cognitive triad" of negative thinking patterns, or "schemas," about oneself, one's future, and the world.
What is the humanistic theory of depression?
Humanistic psychologists argued that depression resulted from an incongruity between society and the individual's innate drive to self-actualize, or to realize one's full potential. American humanistic psychologist Abraham Maslow theorized that depression is especially likely to arise when the world precludes a sense of "richness" or "totality" for the self-actualizer.
Which country has the highest rate of depression?
A study found that Afghans have the highest rate of depression in the world.
Which philosopher argued that depression, or melancholia, could result from loss and is more severe than mourn?
Sigmund Freud argued that depression, or melancholia, could result from loss and is more severe than mourning.
When was depression first described?
The earliest written accounts of what is now known as depression appeared in the second millennium B.C.E. in Mesopotamia. In these writings, depression was discussed as a spiritual rather than a physical condition. Like other mental illnesses, it was believed to be caused by demonic possession. As such, it was dealt with by priests rather than physicians. 1
Who discovered depression?
While no single person can be credited with the discovery of depression , there are many great thinkers whose ideas contributed—and continue to contribute—to our growing knowledge of what this illness really is. In order to better understand how researchers, doctors, and psychologists think about this condition today, it can be helpful to take a look back at the history of depression.
What is depression caused by?
Hippocrates, a Greek physician, suggested that depression (initially called "melancholia") was caused by four imbalanced body fluids called humours: yellow bile, black bile, phlegm, and blood. 2 Specifically, he thought that melancholia was caused by too much black bile in the spleen.
What did Robert Burton recommend for depression?
In this book, he made recommendations like diet, exercise, travel, purgatives (to clear toxins from the body), bloodletting, herbs, and music therapy in the treatment ...
What was the common era?
The Common Era. During the common era, many barbaric and primitive treatments for depression continued to be the norm. Cornelius Celsus (25 BCE to 50 CE) reportedly recommended the very harsh treatments of starvation, shackles, and beating in cases of mental illness. 3 .
What caused depression in the Romans?
In the last years before the common era, in spite of some steps toward believing in more physical and mental causes of depression, it was still a very common belief among even educated Romans that depression and other mental illnesses were caused by demons and by the anger of the gods.
When was MDD first diagnosed?
The term major depressive disorder (MDD) was first introduced by clinicians in the United States during the 1970s. The condition officially became part of the DSM-III in 1980. The current edition of the diagnostic manual is the DSM-5 and is one of the primary tools used in the diagnosis of depressive disorders.
What is depression in Victorian times?
What we recognize today as depression was, in the Victorian era, popularly known as melancholia or melancholy. Like depression, melancholy ranged in seriousness from mild, temporary bouts of sadness or “low spirits” to longer, more extreme episodes, characterized by insomnia, lack of appetite, and suicidal thoughts.
How did Victorian doctors treat melancholy?
Instead, doctors generally treated melancholy by recommending specialized diets and regimens of rest and relaxation.
What did Victorian doctors advise their melancholic patients to drink?
Some Victorian doctors went further with their treatments, advising their melancholy patients to drink alcohol, to take morphia, or even (if they were single) to get married and start a family. For example, Blandford recommended a diet which featured alcohol at almost every meal, followed by a dose of chloral or morphia at night to help the melancholic patient sleep. He writes:
What was the reason for the recession in the late 1700s?
Most of the early US recessions – those in the late 1700s and early in the 19th Century – were based on speculation in land or commodities such as cotton. Land speculation was due in large part to assumptions about which areas of the country would be the most productive for products that ranged from crops to timber.
What was the cause of the Panic of 1797?
Panic of 1797. The United States’ first major economic emergency struck in 1797 as a result of a land speculation bubble bursting. This, combined with the Bank of England withholding payments and the closing of American ports due to a yellow fever epidemic, left economic activity stagnant in the North and caused deflationary effects nationwide ...
How do recessions start?
Most economists believe that recessions are started by discreet events. These are very often based on asset bubbles. Rapidly rising values of gold, land, real estate, or equities draw an increasing number of investors into whichever market is experiencing a boom. Those investors call on banks and other institutions for credit to increase both their ability to invest and the scope of their investment. That draws both investors and banks into assets or commodities which are rapidly rising in value. More often than not, the late-comers find that they have borrowed to buy at the peak of a boom, after the value of whatever created the boom has begun to fall. Too much money has chased too little opportunity. Investors and banks suffer as the once-promising market deflates, or “deleverages” as economists have enjoyed saying recently.
What would apply to a greater number of recession-like events?
A broader definition which would apply to a greater number of recession-like events would include sharp rises in unemployment, disruption of the banking and financial system, steep fall-offs in business and consumer spending, rising bankruptcies, and an increase in the number of companies which have to weather periods of financial distress.
What is recession in economics?
A recession is generally defined as two quarters of GDP contraction as noted by the Business Cycle Dating Committee of the National Bureau of Economic Research. The GDP contraction definition is narrow and cannot be used to define the recessions and depressions that occurred in the first 150 years after The United States was founded.
What was the Great Depression characterized by?
Compared to today, the era from 1834 to the Great Depression was characterized by relatively severe and more frequent banking panics and recessions. In the 1830s, U.S. President Andrew Jackson fought to end the Second Bank of the United States.
What was the financial crisis of 1815?
The 1815 panic was followed by several years of mild depression, and then a major financial crisis – the Panic of 1819, which featured widespread foreclosures, bank failures, unemployment, a collapse in real estate prices, and a slump in agriculture and manufacturing. 1822–1823 recession. 1822. 1822–1823.
When were recessions first identified?
Early recessions and crises. Attempts have been made to date recessions in America beginning in 1790. These periods of recession were not identified until the 1920s. To construct the dates, researchers studied business annals during the period and constructed time series of the data.
How do recessions affect the economy?
U.S. recessions have increasingly affected economies on a worldwide scale, especially as countries' economies become more intertwined .
How many recessions have there been in the US?
From Wikipedia, the free encyclopedia. There have been as many as 47 recessions in the United States dating back to the Articles of Confederation, and although economists and historians dispute certain 19th-century recessions, the consensus view among economists and historians is that "The cyclical volatility of GDP and unemployment was greater ...
How long was the recession between 1945 and 2001?
The average duration of the 11 recessions between 1945 and 2001 is 10 months, compared to 18 months for recessions between 1919 and 1945, and 22 months for recessions from 1854 to 1919. Because of the great changes in the economy over the centuries, it is difficult to compare the severity of modern recessions to early recessions.
What is the unofficial beginning and ending date of recession?
The unofficial beginning and ending dates of recessions in the United States have been defined by the National Bureau of Economic Research (NBER), an American private nonprofit research organization.
Why do people go into depression?
These types of abuse cause people trauma, anxiety, and post-traumatic stress. Many who have experienced any of these types of abuse have to live with a lifetime of shame. Most people who go through such events never speak up; instead they keep it themselves. Those are usually the people who end up with depression, addictions, and dissociative disorders and most likely become suicidal.
Is depression a mental illness?
Throughout the nation and our world people are suffering from this disease. Depression effects people of both genders, all ages, and any background. The history of mental illness, specifically depression were extremely helpful in today’s treatment and diagnosis. We know that all individuals are different and because of this, we can assume that each case of mental illness, more specifically depression, is unique in its own way as well. One treatment that is very effective for one person may not be equally as effective in a similar case simply because of the differences in patients. History, types of depression, symptoms, and treatments are all equally important in finding ways to help one who is suffering from depression. As we look back in…show more content…
Overview
The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1896, depending on the metrics used. It was most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War. The episode was labeled the "Great Depression" at the time, and it held that designation until the Great Depression of …
Background
The period preceding the depression was dominated by several major military conflicts and a period of economic expansion. In Europe, the end of the Franco-Prussian War yielded a new political order in Germany, and the £200 million indemnity imposed on France led to an inflationary investment boom in Germany and Central Europe. New technologies in industry such as the Bessemer converter were being rapidly applied; railroads were booming. In the United States, th…
Causes of the crisis
In 1873, during a decline in the value of silver—exacerbated by the end of the German Empire's production of thaler coins—the US government passed the Coinage Act of 1873 in April. This essentially ended the bimetallic standard of the United States, forcing it for the first time onto a pure gold standard. This measure, referred to by its opponents as "the Crime of 1873" and the topic of W…
Course of the depression
Like the later Great Depression, the Long Depression affected different countries at different times, at different rates, and some countries accomplished rapid growth over certain periods. Globally, however, the 1870s, 1880s, and 1890s were a period of falling price levels and rates of economic growth significantly below the periods preceding and following.
Reactions to the crisis
The period preceding the Long Depression had been one of increasing economic internationalism, championed by efforts such as the Latin Monetary Union, many of which then were derailed or stunted by the impacts of economic uncertainty. The extraordinary collapse of farm prices provoked a protectionist response in many nations. Rejecting the free trade policies of the Second Empire, French president Adolphe Thiers led the new Third Republic to protectionism, which led ult…
Recovery
In the United States, the National Bureau of Economic Analysis dates the recession through March 1879. In January 1879, the United States returned to the gold standard which it had abandoned during the Civil War; according to economist Rendigs Fels, the gold standard put a floor to the deflation, and this was further boosted by especially good agricultural production in 1879. The view that a single recession lasted from 1873 to 1896 or 1897 is not supported by most modern …
Explanations
Irving Fisher believed that the Panic of 1873 and the severity of the contractions which followed it could be explained by debt and deflation and that a financial panic would trigger catastrophic deleveraging in an attempt to sell assets and increase capital reserves; that selloff would trigger a collapse in asset prices and deflation, which would in turn prompt financial institutions to sell off more assets, only to further deflation and strain capital ratios. Fisher believed that had governme…
Interpretations
Most economic historians see this period as negative for the most industrial nations. Many argue that most of the stagnation was caused by a monetary contraction caused by abandonment of the bimetallic standard, in favor of a new fiat gold standard, starting with the Coinage Act of 1873.
Other economic historians have complained about the characterization of this period as a "depression" because of conflicting economic statistics that cast doubt on this interpretation. Th…
Overview
What was previously known as melancholia and is now known as clinical depression, major depression, or simply depression and commonly referred to as major depressive disorder by many health care professionals, has a long history, with similar conditions being described at least as far back as classical times.
20th and 21st centuries
In the 20th century, the German psychiatrist Emil Kraepelin was the first to distinguish manic depression. The influential system put forward by Kraepelin unified nearly all types of mood disorder into manic–depressive insanity. Kraepelin worked from an assumption of underlying brain pathology, but also promoted a distinction between endogenous (internally caused) and exogenous (externally …
Ancient to medieval period
In Ancient Greece, disease was thought due to an imbalance in the four basic bodily fluids, or humors. Personality types were similarly thought to be determined by the dominant humor in a particular person. Derived from the Ancient Greek melas, "black", and kholé, "bile", melancholia was described as a distinct disease with particular mental and physical symptoms by Hippocrates i…
See also
• History of mental disorders
• Classification of mental disorders