The Great Depression A Economic Catastrophe Of All Times

The great depression has been considered the biggest economic catastrophe of all times, it was a crisis that affected every individual in the United States and it extended to other countries in the globe. The unemployment rate grew from 5 million of people to 13 million from 1929 to 1930. Little kids were put into headwork in order to support their families, it was a period of desperation and starvation that left a mark in American history. So what open the doors to this economic crisis? We will analyze the causes of the great depression, how the great depression evolved and the main theories that were created to explain the depression. The great depression was a rough economic world recession that started at the beginnings of the 1929s and it concluded in different times thought the 1930s or beginning of the 1940s de pending on which country were evaluating. This event affected and indebted many countries besides the United States where decline in the industrial production was 46%, then Canada with a 42%, and Germany with 41%. In total there were 15 countries that were majorly affected. It was the main and most important economic depression of the modern history and it could be used as a reference to describe a situation of the same kind in the future of the world economy. (Encyclopedia Britannica). The stock market crash had a huge impact not only in developing economies but also in developed economies. The international commerce was extremely affected, as well as theShow MoreRelatedThe Great Depression Essay1390 Words   |  6 PagesIntroduction: The world had faced two main economic problems. The first one was the Great Depression in the early of 20th Century. The second was the recent international financial crisis in 2008. The United States and Europe suffered severely for a long time from the great depression. 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