Essay on The Economic Crisis Of The 20th Century

1749 Words 7 Pages
The gravest economic crisis of the 20th century, which, caused by the stock market crash on Wall Street in the United States on October 24th, 1929, called “Black Thursday”, propagated in the whole universe, the lively in a decade of market recession a massive growth of the unemployment and the poverty, but also by profound social and political shifts.
Later the First Word War, the economic system of the United States was booming, and the technology innovation for the home appliances as television, receiving set, and more were for everyone. Everyone took a loan to buy the home appliances, and some people bought the bonds on the stock market. The Great Depression of the 1930s began in the "crash”, that is in the prostration of the values which occurs in the New York Stock Exchange, the Wall Street. The crisis is preceded by forerunners: in the United States, the real estate gets out of breath in 1926: “Using new data on securities industry-based transactions we construct real estate price indexes for Manhattan between 1920 and 1939. During the 1920s prices reached their highest level in the third quarter of 1929 before falling by 67% at the end of 1932 and hovering around that value for most of the Great Depression. The value of high-end properties strongly co-acted with the stock market between 1929 and 1932. A typical property bought in 1920 would have retained only 56% of its initial value in nominal terms two decades afterwards. An investment in the stock market index…

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