The Great Depression And Economic Depression Essay

1288 Words May 12th, 2016 6 Pages
Introduction The great depression was the greatest severe worldwide economic depression that took place during the 1930s. The timing of the Great Depression varied across nations, however, most of the countries it started in 1929 and lasted until the late 1930s.It was the longest, deepest, and most widespread depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how far the world 's economy can decline.
Topic analysis If we explore the topic we will get two parts and they are-
1)The great depression &
2)The political economy behind it.
We already know that the Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world. In the United States, the Great Depression started after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Economic historians usually attributed the start of the Great Depression to the sudden devastating collapse of US stock market prices on October 29, 1929, known as Black Tuesday .However,some dispute this conclusion and see the stock crash as a symptom, rather than a cause of the Great Depression.
The another part of this topic is the political economy behind it.Political economy, most commonly refers to interdisciplinary studies drawing political science, sociology, economics in explaining how political institutions, the…

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