The Great Depression

The Great Depression has been experiencing the financial crisis before, and since then there have been several circumstances, but the market has never experienced such catastrophic long-term collapse. Like a snowball, it shaped and removed the whole economy. Companies are closed down and millions of people are unemployed. Hundreds of banks have been closed. The wages of people lucky enough enough to have work still dropped sharply. As the demand for goods decreases, the value of money declines. The international pattern of world trade has collapsed and every country has tried to protect the industrial base by imposing high tariffs on imported goods.

Cause of the Great Depression The cause of the Great Depression has been controversial over the years. The real reason for the Great Depression is multiple factors, and there is no single reason. Some of the reasons for the Great Depression are the supply and demand, banking systems, workers' wages, corporate successes and failures, government policies, excessive speculation in the stock market, and inequality between rich and middle class It is a distribution of wealth. There are many reactions to the Great Depression, but the Great Depression of the 1930s was an economic event of the 20th century. The Great Depression began in 1929. At that time, worldwide production dropped sharply, the unemployment rate rose at an unprecedented rate. World economic production continued to decline until 1932, reaching 50% of the 1929 level. The unemployment rate soared, and the US reached the highest point of 24.9% in 1933. Real economic production (real GDP) fell by 29% in the US from 1929 to 1933.

The root cause of the Great Depression The Great Depression was the longest period the US economy continued to decline. The Great Depression from 1929 to 1939 lasted ten years, the day of the stock market crash in 1929, and the beginning of the Second World War. Many factors actually resulted in the Great Depression. The well-known factor said to have caused the Great Depression was the stock market crash in 1929, which is not directly correct. - Comparison and comparison of the draft draft January 26, 2016 Justin Park Great Depression is the worst period in America's economic history. It is impossible to exaggerate how difficult this time is for ordinary workers, and there is feeling of hopelessness nationwide. The current political wisdom that led to the Great Depression is that the federal government does not participate in business or economy under any circumstances.