Long Depression
Nobel laureate economist Milton Friedman, author of "A Monetary History of the United States", on the other hand, blamed this prolonged economic crisis on the imposition of a new gold standard, part of which he referred to by its traditional name, The Crime of 1873. This forced shift into a currency whose supply was limited by nature, unable to expand with demand, caused a series of economic and monetary contractions that plagued the entire period of the Long Depression. Murray Rothbard, in his book "History of Money and Banking of the United States", argues that the long depression was only a misunderstood recession since real wages and production were actually increasing throughout the period. Like Friedman, he attributes falling prices to the resumption of a deflationary gold standard in the U.S. after the Civil War.
Latinas and World War II
In the aftermath of World War I, countries of Europe were left in debt from the war, inflation started to rise, and the United States suffered from a Great Depression. The political and social changes around the world proved volatile. The United States opposed the fascist regimes that were gaining ground around the world, but it was not until December 1941 that the U.S. entered into the War after the December 7 attacks on Pearl Harbor incited public support and Congress declared war on Japan on December 8, 1941. This began U.S. involvement in World War II and set the stage for Latina involvement as well.