18. The Panic of 1837

ByPatrick Z

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What is the most important lesson a person can learn about persistence from the Panic of 1837?

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The Panic of 1837 was caused by an economic expansion from mid-1834 to mid-1836. This rapid growth caused a financial crisis that touched off America’s first major economic depression. The causes of the Panic of 1837 were domestic and foreign, the results caused massive unemployment, many banks closed, prices declined, and many businesses closed.

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