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The '''Depression of 1920''', generally referred to as '''The Forgotten Depression''', was a steep depression that began 14 months after [[World War I]], at the end of the presidency of [[Woodrow Wilson]].<ref>[https://www.washingtonpost.com/opinions/warren-harding-curing-a-depression-through-austerity/2012/01/19/gIQA5VEsEQ_story.html?utm_term=.47cde0da0794 Warren Harding, curing a depression through austerity], [[Washington Post]]</ref><ref>[http://www.realclearmarkets.com/articles/2010/09/22/1920_the_great_depression_that_wasnt_98679.html1920: The Great Depression That Wasn't]</ref><ref>[https://fee.org/articles/the-depression-youve-never-heard-of-1920-1921/ The Depression You've Never Heard Of: 1920-1921]</ref><ref>[https://mises.org/library/forgotten-depression-1920 The Forgotten Depression of 1920], [[Ludwig von Mises Institute]]</ref>
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The '''Depression of 1920''', generally referred to as '''The Forgotten Depression''', was a steep depression that began 14 months after [[World War I]], at the end of the presidency of [[Woodrow Wilson]].<ref>[https://www.washingtonpost.com/opinions/warren-harding-curing-a-depression-through-austerity/2012/01/19/gIQA5VEsEQ_story.html?utm_term=.47cde0da0794 Warren Harding, curing a depression through austerity], [[Washington Post]]</ref><ref>[https://www.realclearmarkets.com/articles/2010/09/22/1920_the_great_depression_that_wasnt_98679.html1920: The Great Depression That Wasn't]</ref><ref>[https://fee.org/articles/the-depression-youve-never-heard-of-1920-1921/ The Depression You've Never Heard Of: 1920-1921]</ref><ref>[https://mises.org/library/forgotten-depression-1920 The Forgotten Depression of 1920], [[Ludwig von Mises Institute]]</ref>
    
Historian Adam Tooze states that the 1920 depression is "perhaps the most underrated event in the history of the twentieth century."<ref>[https://books.google.com/books?id=91TMAgAAQBAJ&pg=PP47 The Deluge: The Great War and the Remaking of Global Order 1916-1931]</ref>
 
Historian Adam Tooze states that the 1920 depression is "perhaps the most underrated event in the history of the twentieth century."<ref>[https://books.google.com/books?id=91TMAgAAQBAJ&pg=PP47 The Deluge: The Great War and the Remaking of Global Order 1916-1931]</ref>
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