The Great Depression. Course, Effects and Consequences

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Essay from the year 2020 in the subject Business economics - Economic and Social History, grade: 2,0, University of Applied Sciences Essen, language: English, abstract: This scientific essay deals with the topic of the Great Depression. The Great Depression represents the economic crisis that began on October 24, 1929 and dominated the 1930s. There is no doubt that the interwar economic crisis was the most serious event in the recent economic crisis. The reason for this is its size and the associated consequences. Both historians and economics have worked intensively on the issues surrounding the Great Depression. This is because the Great Depression was a global phenomenon. This globality has determined our thinking since then and justifies its impact. But all the facts just mentioned will be shown and explained in more detail in the course of this scientific essay. Furthermore, the current corona crisis, which is also having a very large impact on the global economy, shows why an occupation with this topic is justified right now. At the beginning of the scientific essay, the term economic crisis and how an economic crisis arises are to be explained. This is to serve that the further content of this work can be better understood and transferred to the Great Depression. Thereupon it will give you some general information about the Great Depression, which should introduce the whole topic. Afterwards, a brief insight into the economic situation in Europe and America after the First World War and in the 1920s is given. This insight is intended to help you understand the causes and triggers for the Great Depression. These two topics are also dealt with in this essay. To round off the entire topic, the countermeasures that were used to overcome the crisis are listed at the end. Ultimately, there is also a conclusion on the entire topic.