Great Depression after 1929

Great Depression after 1929

Introduction

After World War I was over, Europe and America were left in shatters. Though the destruction was not to the same extent in both continents, the repercussions were strongly felt. The effects of the World War I led to a thriving American economy. However, after a decade of prosperity, many Americans, who had never been out of commission employment, were astounded when factories, stores, and mines closed down.

Discussion

The world economic system was unstable unless someone country stabilized it, as Britain had done in the nineteenth century and up to 1913. In 1929, the English ...