Developments Of The Modern Day
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OUTLINE THE MOST IMPORTANT CAUSES OF THE GREAT DEPRESSION. PROVIDE APPROPRIATE EVIDENCE TO ILLUSTRATE THE SCALE OF THE GREAT DEPRESSION IN ADVANCED NATIONS
The Great Depression was the largest economical disaster ever to have happened. Unlike World War One, fifteen years earlier, the great depressi ....
Middle of paper
.... also consider other causes such as the massive unequal distribution in income that existed and the lasting effects of the war in the form of debts owed to the US.
To understand the sheer consequence of the Great Depression we can consider a normal economy. Most economies experience a ‘Boom and Bust’ cycle, where economies fluctuate between times of prosperity and times of recession. The economist Maynard Keynes believed these cycles would occur roughly every seven years (1). However, the ....
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Word count: 1710
Page count: 7 (approximately 250 words per page)
