Depressions and Panics
A depression is a period of sustained downturn in economic growth and activity. A (banking) panic is a type of financial crisis affecting banks across a region or country in which bank customers lose confidence and withdraw their deposits, leading to bank failures. Panics and depressions are often linked.
- Harvard Library Historical Collections: Bubbles, Panics & Crashes
- Museum of American Finance: The Panic of 1819: America's First Great Depression (PDF)
- Wikipedia: List of Banking Crises