15.99 Dollar US$ 1929: The Great Crash: A Look Back After 90 Years
- Location: United States
The Great Depression was the worst and longest economic collapse experiencedby the industrialised countries. However, the depression’s impact on nations wasdifferent in various ways and degrees of intensity. In the United States of America,apart from the Civil War, the Great Depression was the most serious crisis that thecountry has faced. Indeed, the US nation had already experienced several depressionsbefore, yet, none of them was as severe and as long lasting as the Great Depression. Thedownturn began in 1929 and lasted a whole decade during which large numbers ofpeople lived in poverty and misery.At first, economists and leaders thought that it was a correction of the market notworst than the precedent ones. Yet, data soon proved that this optimism was wrong.Moreover ,the crisis which resulted from a complex process involving both economicfactors and political decisions marked the beginning of government intervention ineconomy and society as a whole......
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