Meta tags:

Headings (most frequently used words):

recession, of, 1958, contents, causes, effects, government, response, references, further, reading, price, and, costs,

Text of the page (most frequently used words):
the (90), #recession (46), and (44), gold (39), rush (39), crisis (35), united (32), bubble (25), states (24), 1958 (21), economic (18), market (18), panic (18), boom (15), new (13), was (12), stock (12), oil (12), crash (12), banking (12), financial (11), unemployment (11), war (10), edit (10), were (10), industrial (9), kingdom (9), great (9), million (9), from (8), revolution (8), rate (8), slavery (8), canada (8), 1957 (8), for (8), wikipedia (7), this (7), history (7), price (7), australia (7), government (7), black (7), 1973 (7), 1870 (7), 1861 (7), eisenhower (6), debt (6), demand (6), depression (6), whaling (6), agriculture (6), british (6), 2023 (6), world (6), 978 (6), prices (6), page (5), with (5), recessions (5), age (5), real (5), supply (5), expansion (5), employment (5), inflation (5), rail (5), 1899 (5), south (5), india (5), 2022 (5), 2021 (5), 2009 (5), 2007 (5), 1982 (5), 1960 (5), economy (5), 1880 (5), 1865 (5), 1867 (5), chicago (5), isbn (5), 1959 (5), party (5), had (5), contents (4), search (4), about (4), policy (4), retrieved (4), energy (4), credit (4), housing (4), global (4), interest (4), recovery (4), general (4), business (4), era (4), industry (4), present (4), 1900 (4), maritime (4), list (4), mining (4), scotland (4), transport (4), middle (4), zealand (4), malaysia (4), early (4), decline (4), effects (4), commodities (4), 2014 (4), 2011 (4), monday (4), australian (4), 2008 (4), 2000s (4), west (4), 1991 (4), 1990 (4), 1945 (4), post (4), home (4), 1930 (4), 1914 (4), 1893 (4), 1890 (4), rushes (4), 1864 (4), 1851 (4), american (4), university (4), press (4), federal (4), production (4), goods (4), that (4), they (4), main (4), rose (4), hide (4), move (4), sidebar (4), toggle (3), view (3), index (3), higher (3), cycle (3), bank (3), estate (3), money (3), slave (3), trade (3), labor (3), colonial (3), monetary (3), wales (3), 1995 (3), 1994 (3), system (3), africa (3), western (3), sri (3), 2010 (3), property (3), november (3), 2002 (3), 1997 (3), downturn (3), 1990s (3), 1980 (3), silver (3), 1970s (3), 1969 (3), 1949 (3), nova (3), scotia (3), 1929 (3), 1910 (3), 1903 (3), 1897 (3), 1896 (3), creek (3), 1869 (3), 1858 (3), years (3), william (3), reserve (3), 1963 (3), consumer (3), other (3), after (3), while (3), construction (3), projects (3), costs (3), continued (3), many (3), there (3), resulting (3), fell (3), purchases (3), sales (3), sharp (3), tools (3), languages (2), table (2), contact (2), privacy (2), under (2), terms (2), use (2), categories (2), short (2), description (2), wikidata (2), presidency (2), dwight (2), education (2), social (2), peak (2), contagion (2), flash (2), capital (2), commodity (2), topics (2), shock (2), stagflation (2), curve (2), nominal (2), rule (2), natural (2), hyperinflation (2), push (2), debasement (2), paradox (2), glut (2), zimbabwe (2), technological (2), markets (2), forced (2), petroleum (2), poverty (2), 2000 (2), 1800 (2), 1799 (2), lumber (2), expansions (2), steel (2), victorian (2), 1948 (2), 1923 (2), 1947 (2), 1830 (2), ages (2), national (2), england (2), interwar (2), english (2), pakistan (2), ghana (2), countries (2), 2024 (2), gas (2), impact (2), 2020 (2), lankan (2), 2017 (2), 2016 (2), 2015 (2), bangladesh (2), fall (2), tiger (2), mortgage (2), october (2), 2006 (2), 2003 (2), 2001 (2), mini (2), asian (2), 2004 (2), 1992 (2), friday (2), 1980s (2), moderation (2), second (2), gilded (2), 1975 (2), 1970 (2), 1953 (2), 1951 (2), 1950 (2), third (2), 1920 (2), 1925 (2), fronts (2), period (2), 1909 (2), 1907 (2), 1901 (2), river (2), 1891 (2), 1884 (2), 1879 (2), colorado (2), 1874 (2), 1873 (2), 1860 (2), 1859 (2), pennsylvania (2), 1857 (2), 1848 (2), 1855 (2), 1847 (2), 1840 (2), mania (2), state (2), 1828 (2), 1825 (2), alabama (2), 1807 (2), 1810 (2), 1802 (2), 1796 (2), 1789 (2), 1785 (2), 1769 (2), 1760 (2), 1720 (2), slump (2), robert (2), chairman (2), york (2), mcgraw (2), hill (2), doi (2), further (2), reading (2), elections (2), macmillan (2), labour (2), january (2), pdf (2), president (2), references (2), congress (2), income (2), high (2), measure (2), annual (2), already (2), order (2), administration (2), also (2), played (2), role (2), until (2), conditions (2), began (2), down (2), department (2), important (2), major (2), house (2), response (2), effect (2), during (2), recessionary (2), but (2), materials (2), known (2), economists (2), 1952 (2), people (2), areas (2), most (2), any (2), beyond (2), since (2), rates (2), personal (2), durable (2), manufacturing (2), three (2), industries (2), due (2), drop (2), orders (2), over (2), 1956 (2), equipment (2), between (2), 1955 (2), car (2), auto (2), causes (2), worldwide (2), appearance (2), upload (2), file (2), changes (2), links (2), read (2), article (2), log (2), create (2), account (2), donate (2), menu (2), add, topic, mobile, cookie, statement, statistics, developers, code, conduct, legal, safety, contacts, disclaimers, text, available, additional, may, apply, using, site, you, agree, registered, trademark, non, profit, organization, wikimedia, foundation, inc, creative, commons, attribution, sharealike, license, rendered, parsoid, last, edited, february, 2026, utc, hidden, matches, articles, https, org, php, title, recession_of_1958, oldid, 1340619781, proposed, bubbles, unicorn, media, green, everything, carbon, imagination, fourth, trend, irrational, exuberance, leverage, minsky, moment, funding, accounting, liquidity, currency, crunch, shocks, failure, run, speculation, ghost, town, boomtown, diamond, booms, shapes, rolling, balance, sheet, inverted, yield, stagnation, miracle, velocity, sahm, value, level, phillips, neutrality, nairu, full, disinflation, deflation, built, cost, pull, monetization, classical, dichotomy, chronic, underconsumption, wage, stickiness, thrift, overproduction, model, effective, aggregate, dollar, taxation, tariffs, transportation, public, shale, 1999, 1776, iron, indentured, servitude, coal, central, wildcat, investment, cooperatives, unions, 1922, pre, fiscal, empire, atlantic, agricultural, uganda, nigeria, salt, tax, deindustrialisation, raj, company, pacific, northwest, currencies, sectors, 2025, food, crises, pakistani, surge, chain, regional, supplier, 2020s, shortages, sectoral, impacts, covid, 2019, 2018, fuel, brexit, selloff, puerto, rican, cryptocurrency, share, scam, august, 2010s, cub, blue, corporate, failures, bear, correction, subprime, december, september, indies, lanka, uranium, north, dakota, myanmar, canadian, dot, com, papua, guinea, bond, wednesday, indian, rhode, island, 1989, 13th, 1987, 1986, savings, loan, 1985, 1983, saturday, computer, thursday, 1976, sterling, 1979, secondary, 1974, poseidon, kennedy, slide, 1962, 1961, 1954, hong, kong, singapore, compression, wwii, front, 1932, 1942, 1930s, kakamega, 1937, 1938, 1933, contraction, 1939, wall, street, 1926, 1927, 1924, roaring, twenties, 1920s, florida, land, 1921, 1918, 1919, 1913, 1912, porcupine, 1908, cobalt, 1902, 1904, texas, fairbanks, nome, mount, baker, kobuk, stampede, klondike, 1894, cripple, baring, 1887, 1886, witwatersrand, cayoosh, 1882, 1885, ohio, indiana, hills, long, cassiar, coromandel, 2nd, kildonan, vermilion, lake, 1866, coast, first, civil, otago, pike, 1853, omineca, big, bend, leechtown, 1863, wild, horse, cariboo, stikine, similkameen, rock, fraser, canyon, queen, charlottes, columbia, california, 1845, 1844, plank, road, 1850, railway, defaults, 1840s, 1836, 1838, 1839, 1843, 1837, 1833, 1830s, georgia, 1826, 1822, 1815, 1821, napoleonic, 1812, fever, 1810s, carolina, 1804, 1797, 1790, canal, 1793, 1792, copper, 1788, 1775, 1783, revolutionary, 1772, 1773, 1784, bengal, 1st, 1754, 1763, seven, 1717, mississippi, 1713, sea, frost, 1709, 1706, 1690, 1544, 1551, 1430, 1490, 1400, 1500, bullion, famine, 1000, commercial, commonwealth, nations, bremner, 139, 0300105087, 129, yale, haven, fed, mcchesney, martin, creation, 176, 0226520025, 159, volume, book, meltzer, allan, 1993, 620, 0691003542, 614, schwartz, anna, friedman, milton, katona, george, powerful, psychological, studies, issues, 1960s, hansen, alvin, gable, richard, politics, economics, 559, 154252278, s2cid, 1177, 106591295901200216, 557, political, quarterly, almanac, democrats, sweep, will, have, senators, 283, representatives, governors, thorpe, andrew, london, 146, 333, 56081, 1007, 349, 25305, mcclenahan, becker, baltimore, johns, hopkins, 4214, 0265, cold, photo, essays, project, printing, office, 225, oct, monthly, review, report, quick, prime, minister, allowed, reelected, term, against, hand, won, control, landslide, blamed, republican, midterm, democratic, election, hugh, gaitskell, conservative, harold, end, 142, average, total, increased, its, low, been, reduced, expenditures, individuals, levels, broadest, nation, output, services, risen, 453, billion, gross, product, underway, accelerated, those, funded, planned, begun, immediately, water, resource, programs, pushed, ahead, encourage, building, ended, restrictions, loans, finally, june, enacted, legislation, authorize, assistance, could, lengthen, dealing, made, moves, once, aware, severity, situation, lowering, improve, discount, benefits, payment, rural, electrification, efforts, promote, prompt, council, advisors, secretary, treasury, senate, majority, leader, some, figures, playing, roles, effort, focus, stimulate, keeping, lyndon, johnson, anderson, raymond, saulnier, apparent, rise, declining, past, tended, time, went, apart, raw, pause, wholesale, upward, creep, became, cause, concern, among, well, analyzing, such, arthur, burns, percent, change, little, overall, decreased, job, losses, drawing, highest, suffered, maintained, record, large, part, result, automobile, when, than, point, 1941, detroit, michigan, virginia, midwest, northeast, insurance, textiles, hit, hardest, severe, unfulfilled, decreasing, five, out, work, gradual, decrease, incoming, which, resulted, ending, expansive, initial, trouble, deceleration, planning, replacement, facilities, created, widening, gap, capacity, believed, contributed, cutting, back, defense, slowed, fallen, units, took, dive, class, consumers, decided, keep, their, longer, instead, upgrading, few, making, worst, year, just, almost, cars, factors, exerted, growing, downward, pressure, reduction, activity, spread, europe, causing, businesses, shut, officially, circumstances, lasted, april, though, generally, regarded, moderate, significant, free, encyclopedia, item, printable, version, download, print, export, switch, legacy, parser, get, shortened, url, cite, information, permanent, link, related, what, here, actions, talk, русский, français, subsection, top, special, pages, recent, community, portal, learn, help, contribute, random, current, events, navigation, jump, content,

Text of the page (random words):
ond the united states to europe and canada causing many businesses to shut down 2 officially recessionary circumstances lasted from the middle of 1957 to april 1958 3 though it is generally regarded as a moderate recession 1 it was the most significant recession during the post world war ii economic expansion between 1945 and 1973 causes edit there were many major factors in the decline that exerted a growing downward pressure on production and employment resulting in a general reduction of economic activity 1 new car sales took a sharp dive as middle class consumers decided to keep their cars for longer instead of upgrading after a few years 3 auto sales fell 31 over 1957 making 1958 the worst auto year since world war ii 1 in just three years car sales fell from almost 8 million purchases in 1955 to 4 3 million purchases in 1958 3 housing construction slowed due to higher interest rates in 1955 and 1956 by 1957 new house construction had fallen to about 1 2 million units 3 there was a gradual decrease in incoming business of capital goods industries 1 which resulted in the ending of an expansive boom the initial trouble began in 1956 with a deceleration in business planning for replacement of equipment and expansion of manufacturing facilities resulting in a drop in new orders for equipment 3 this created a widening gap between the supply and the use of industrial capacity 1 federal reserve economists believed that the eisenhower administration had contributed to the recession by cutting back on united states department of defense purchases in 1957 3 effects edit us unemployment rate 1952 1963 durable goods manufacturing fell and lumber mining and textiles were three of the industries that were hit the hardest due to a severe drop in unfulfilled orders for durable goods and a decreasing demand for commodities and other materials the recession of 1958 forced over five million people out of work 2 in the united states unemployment rose but there was little to no decline in personal income overall employment decreased by 6 2 resulting in 2 million job losses and 1 3 million people drawing unemployment insurance 1 unemployment was highest in industrial areas in the northeast and midwest and in mining areas in pennsylvania west virginia and the west michigan suffered the most of any state with an unemployment rate of 11 as detroit maintained a record high of 20 in large part this was a result of a 47 decline in automobile production when unemployment rates rose beyond 5 1 million in january 1958 they were higher than at any point since 1941 3 price and costs edit percent annual change in the us consumer price index a measure of inflation 1952 1963 the effect on prices and costs was an apparent paradox as prices continued to rise while production and employment were declining 1 in past recessions prices tended to fall during recessionary conditions but this time they went up apart from raw materials the u s consumer prices rose 2 7 from 1957 to 1958 and after a pause they continued to push up until november 1959 wholesale prices rose 1 6 from 1957 to 1959 the continued upward creep of prices became a cause of concern among many well known economists analyzing the economy such as arthur f burns government response edit government efforts to promote a prompt economic recovery played an important role in the moderation of the recession president dwight d eisenhower council of economic advisors chairman raymond j saulnier secretary of the treasury robert b anderson and senate majority leader lyndon b johnson were some of the important figures playing major roles in this effort eisenhower s main focus was to stimulate recovery while keeping the government s financial house in order 3 construction projects already underway were accelerated and those already funded were planned and begun immediately the united states department of agriculture projects for water resource programs and rural electrification were pushed ahead 3 in order to encourage home building the administration ended restrictions on no down payment mortgage loans 3 finally in june 1958 the congress enacted the legislation to authorize federal assistance to the states so that they could lengthen the period of unemployment benefits 3 monetary policy also played a role in dealing with the recession the federal reserve made moves once aware of the severity of the situation lowering the discount rate to 1 75 until conditions began to improve 3 by the end of the recession the index of industrial production was 142 of the 1947 to 1949 average total employment had increased by about 1 million from its recession low while unemployment had been reduced by 1 million income and expenditures of individuals were at new high levels gross national product the broadest measure of the nation s output of goods and services had risen to an annual rate of 453 billion 1 in the united kingdom the quick economic recovery under prime minister harold macmillan allowed the conservative party to be reelected for a third term of government against hugh gaitskell s labour party in the 1959 general election 4 on the other hand in the united states the democratic party won control of the united states congress in the 1958 midterm elections in a landslide after the republican party was blamed for the economic crisis 5 references edit 1 2 3 4 5 6 7 8 9 the economic report of the president pdf monthly labor review 82 3 the american presidency project u s government printing office 1 225 1959 retrieved 20 oct 2014 1 2 the recession of 1958 photo essays january 1 2008 retrieved november 5 2014 1 2 3 4 5 6 7 8 9 10 11 12 mcclenahan william m becker william h 2011 eisenhower and the cold war economy baltimore johns hopkins university press isbn 978 1 4214 0265 9 thorpe andrew 1997 a history of the british labour party london macmillan education uk p 146 doi 10 1007 978 1 349 25305 0 isbn 978 0 333 56081 5 democrats sweep 1958 elections will have 64 senators 283 representatives 35 governors cq almanac retrieved 2022 06 27 further reading edit gable richard w 1959 the politics and economics of the 1957 1958 recession western political quarterly 12 2 557 559 doi 10 1177 106591295901200216 s2cid 154252278 hansen alvin h 1960 economic issues of the 1960s new york mcgraw hill katona george 1960 the powerful consumer psychological studies of the american economy new york mcgraw hill friedman milton schwartz anna j 1993 1963 a monetary history of the united states 1867 1960 chicago university of chicago press pp 614 620 isbn 978 0691003542 meltzer allan h 2009 a history of the federal reserve volume 2 book 1 1951 1969 chicago university of chicago press pp 159 176 isbn 978 0226520025 bremner robert p 2004 chairman of the fed william mcchesney martin jr and the creation of the american financial system new haven ct yale university press pp 129 139 isbn 978 0300105087 v t e economic history of the united states and commonwealth of nations countries commercial revolution 1000 1760 great bullion famine c 1400 c 1500 great slump 1430 1490 the great debasement 1544 1551 financial revolution 1690 1800 slump of 1706 great frost of 1709 south sea bubble 1713 1720 mississippi bubble 1717 1720 economic impact of the seven years war 1754 1763 1st industrial revolution market revolution 1760 1870 industrial revolution scotland united states wales bengal bubble of 1769 1769 1784 british credit crisis of 1772 1773 american revolutionary war inflation 1775 1783 panic of 1785 1785 1788 copper panic of 1789 panic of 1792 1789 1793 canal mania c 1790 c 1810 panic of 1796 1797 1796 1799 1802 1804 recession carolina gold rush 1802 1825 depression of 1807 1807 1810 1810s alabama real estate bubble alabama fever 1812 recession post napoleonic depression 1815 1821 1822 23 recession panic of 1825 panic of 1826 1828 29 recession georgia gold rush 1828 c 1840 1830s chicago real estate bubble 1833 34 recession panic of 1837 1836 1838 and 1839 1843 u s state defaults in the 1840s railway mania c 1840 c 1850 plank road boom 1844 c 1855 1845 46 recession panic of 1847 1847 1848 california gold rush 1848 1855 british columbia gold rushes queen charlottes gold rush 1851 fraser canyon gold rush 1858 rock creek gold rush 1859 similkameen gold rush 1860 stikine gold rush 1861 cariboo gold rush 1861 1867 wild horse creek gold rush 1863 1870 leechtown gold rush 1864 1865 big bend gold rush c 1865 omineca gold rush 1869 victorian gold rush 1851 c 1870 new south wales gold rush 1851 1880 australian gold rushes 1851 1914 1853 54 recession panic of 1857 1857 1858 pike s peak gold rush 1858 1861 pennsylvania oil rush 1859 1891 1860 61 recession colorado river mining boom 1861 1864 otago gold rush 1861 1864 u s civil war economy 1861 1865 first nova scotia gold rush 1861 1874 west coast gold rush 1864 1867 panic of 1866 1865 1867 vermilion lake gold rush 1865 1867 kildonan gold rush 1869 black friday 1869 1870 gilded age 2nd industrial revolution 1870 1914 coromandel gold rushes c 1870 c 1890 cassiar gold rush c 1870 c 1890 long depression 1873 1879 panic of 1873 black hills gold rush 1874 1880 colorado silver boom 1879 1893 western australian gold rushes c 1880 c 1900 indiana gas boom c 1880 1903 ohio oil rush c 1880 c 1930 depression of 1882 1885 panic of 1884 cayoosh gold rush 1884 witwatersrand gold rush 1886 1887 88 recession baring crisis 1890 1891 cripple creek gold rush c 1890 c 1910 panic of 1893 1893 1897 australian banking crisis of 1893 black monday 1894 panic of 1896 klondike gold rush 1896 1899 second nova scotia gold rush 1896 1903 kobuk river stampede 1897 1899 mount baker gold rush 1897 c 1925 1899 1900 recession nome gold rush 1899 1909 fairbanks gold rush c 1900 c 1930 texas oil boom 1901 c 1950 panic of 1901 1902 1904 cobalt silver rush 1903 c 1930 panic of 1907 1907 1908 porcupine gold rush 1909 c 1960 panic of 1910 11 1910 1912 financial crisis of 1914 1913 14 world war home fronts interwar period 1914 1945 world war i economy and home fronts australia canada united kingdom united states post world war i recession 1918 1919 recession of 1920 1921 1920s florida land boom c 1920 1925 roaring twenties 1923 1924 recession 1926 1927 recession great depression 1929 1939 wall street crash of 1929 panic of 1930 great contraction 1929 1933 recession of 1937 1938 australia canada india south africa united kingdom united states 1930s kakamega gold rush third nova scotia gold rush 1932 1942 world war ii home front australia canada united kingdom united states post wwii expansion 1970s stagflation 1945 1982 great compression 1945 recession recession of 1949 1948 1949 hong kong and singapore asian tiger expansions 1950 1990 1951 canada recession recession of 1953 1953 1954 recession of 1958 1957 1958 recession of 1960 1961 kennedy slide of 1962 poseidon bubble 1969 1970 recession of 1969 1970 1970s commodities boom 1973 1975 recession 1973 1974 stock market crash secondary banking crisis of 1973 1975 1970s energy crisis 1973 1980 1973 oil crisis 1979 oil crisis steel crisis 1973 1982 1976 sterling crisis silver thursday 1980 early 1980s recession 1980 1982 united states computer age second gilded age 1982 present great moderation 1982 2007 1980s oil glut black saturday 1983 new zealand property bubble c 1985 savings and loan crisis 1986 1995 black monday 1987 friday the 13th mini crash 1989 early 1990s recession 1990 1991 australia united states 1990 oil price shock rhode island banking crisis 1990 1992 1991 indian economic crisis 1990s united states boom 1991 2001 1990s india economic boom hyperinflation in zimbabwe 1991 present black wednesday 1992 1994 bond market crisis 1994 papua new guinea financial crisis dot com bubble 1995 2004 stock market downturn of 2002 1997 asian financial crisis october 27 1997 mini crash early 2000s recession 2001 9 11 stock market crash 2000s commodities boom 2000 2014 united states housing bubble 2002 2006 canadian property bubble 2002 2003 myanmar banking crisis 2000s energy crisis 2003 2008 north dakota oil boom 2006 2015 uranium bubble of 2007 great recession 2007 2009 australia and new zealand bangladesh india malaysia pakistan and sri lanka british west indies canada south africa united kingdom united states 2008 financial crisis september october november december 2009 subprime mortgage crisis 2000s u s housing market correction u s bear market of 2007 2009 2007 2010 u s bank failures corporate debt bubble 2008 blue monday crash 2009 2010 flash crash malaysia tiger cub expansion 2010s australian property bubble 2010 august 2011 stock markets fall black monday 2011 bangladesh share market scam cryptocurrency bubble 2011 puerto rican government debt crisis 2014 2022 2015 2016 stock market selloff brexit stock market crash 2016 2017 sri lankan fuel crisis ghana banking crisis 2017 2018 sri lankan economic crisis 2019 2024 covid 19 recession 2020 2022 2020 stock market crash financial market impact sectoral impacts shortages canada india malaysia new zealand united kingdom united states 2020s commodities boom global energy crisis 2021 2023 2021 united kingdom natural gas supplier crisis regional effects 2021 2023 global supply chain crisis 2021 2023 inflation surge pakistani economic crisis 2021 2024 2022 stock market decline 2022 2023 global food crises 2023 united kingdom recession 2023 united states banking crisis 2025 stock market crash countries and sectors australia rail transport slavery whaling western australia canada agriculture currencies early banking system list of recessions petroleum industry rail transport slavery technological and industrial whaling pacific northwest ghana india agriculture company rule maritime british raj deindustrialisation salt tax slavery malaysia new zealand whaling nigeria slavery pakistan maritime rail transport south africa slavery whaling uganda united kingdom agricultural revolution atlantic slave trade banking british empire english fiscal system interwar unemployment and poverty list of recessions maritime england scotland middle ages england agriculture national debt scotland agriculture middle ages rail transport pre 1830 1830 1922 1923 1947 1948 1994 1995 present slavery trade unions victorian era wales whaling scotland united states agriculture banking colonial era credit cooperatives investment banking wildcat banking business central banking coal mining indentured servitude iron and steel industry labor list of economic expansions list of recessions lumber industry maritime colonial era 1776 1799 1800 1899 1900 1999 2000 present monetary policy poverty petroleum industry oil shale public debt rail transportation slavery colonial era slavery forced labor slave trade slave markets tariffs taxation technological and industrial united states dollar whaling zimbabwe business cycle topics aggregate demand supply effective demand general glut model overproduction paradox of thrift price and wage stickiness underconsumption inflation and unemployment chron...