How Did The Great Depression Affect The Economy
INTRODUCTION
The Great Depression began in the 1930’s and lasted till about 1939, approximately 10 years. During this time the world went through a disastrous economic disintegration. There was a 25% decrease in the level of production, unemployment rates flew up in America, Britain, and Germany, and the liberal market economic system lost its validity.
Real Gross Domestic Product descended approximately 30%, and real per capita disposable income plunged another 40%. About 12 million people became jobless, and almost 85, 000 businesses around the globe fizzled up, and thousands of people became homeless.
By 1993 the economy started to regain itself, but there was a great reduction in business activity. In 1937 there was a
The Great Depression began in the 1930’s and lasted till about 1939, approximately 10 years. During this time the world went through a disastrous economic disintegration. There was a 25% decrease in the level of production, unemployment rates flew up in America, Britain, and Germany, and the liberal market economic system lost its validity.
Real Gross Domestic Product descended approximately 30%, and real per capita disposable income plunged another 40%. About 12 million people became jobless, and almost 85, 000 businesses around the globe fizzled up, and thousands of people became homeless.
By 1993 the economy started to regain itself, but there was a great reduction in business activity. In 1937 there was a