The Great Depression

   

The Great Depression was a worldwide market crash that lasted from 1929 to 1939. The main cause why this happened were stocks which prices were much higher than their actual value. It started on October 24,1929 when investors in a panic began selling stocks. Five days later during “ Black Tuesday” over 16 million shares were sold, making almost every share worthless. In the worst situation were factory workers, farmers, or other people who had bought stocks on credit so when it started to fall they were left with debt and often without a job.

        The great depression was the worst economic crisis in history. It ruined the global economy, made the unemployment rate really high, and created political and economical instability- the perfect environment for the rise of totalitarian ideologies such as Nazism or fascism.

Links:


https://www.britannica.com/event/Great-Depression/Economic-impact
https://www.history.com/topics/great-depression/great-depression-history
https://www.thestreet.com/politics/great-depression-causes-14663720

Komentarze

  1. englishdiary29 września 2020 11:23

    We have similar ideologies on the rise now. I wonder what has led to that. Maybe one day you will point at an event that has caused this phenomenon?

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