Causes Quote by Herbert Hoover
“In the large sense the primary cause of the Great Depression was the war of 1914-1918. Without the war there would have been no depression of such dimensions. There might have been a normal cyclical recession; but, with the usual timing, even that readjustment probably would not have taken place at that particular period, nor would it have been a "Great Depression.”
About This Quote
Source Speech: Economic Policy Address, 1930
The war created conditions that amplified economic collapse; without it, the downturn would have been milder and more typical.
In simple terms: World War I set the stage for the severe Depression.
Key Takeaway
Recognize war’s economic ripple effects.
Themes
economics
history
war impact
Mood
analytical
cautious
Type
historical
economic commentary
When to use this quote
- financial planning
- government budgeting
- historical analysis
Key Concepts
macroeconomic cycles
policy response
Questions to Reflect On
- How would post‑war economies differ today?
- What policies can mitigate war‑driven downturns?
A Different Perspective
War‑induced debt and disruption complicate simple causal narratives.
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