TheEnglishversionofthecoursewarefortheGrea目录•Introduction•ThecausesoftheGreatDepression•ThesequencesoftheGreatDepression•TheSolutiontotheGreatCompression•ThelessonsoftheGreatDepressionPART01IntroductionThebackgroundoftheGreatDepressionThe1920sTheroutingpairswereaperiodofeconomicgrowthandspecificityintheUnitedStates,butitwasalsocharacterizedbyaspecificbubbleinthestockmarketStockMarketCrashInOctober1929,thestockmarketcrashed,sendingshockwavesthroughtheglobaleconomyTheeffectsweresignificantlysevereintheUnitedStatesTheimpactoftheGreatDepression要点一要点二要点三EconomicDownturnPoliticalandSocialUnrestInternationalImpactThedepressionledtoasharpcontractineconomicactivity,withhighunemployment,fallingincome,anddepletionTheeconomicshipsledtosocialunrestandpoliticaluplift,withlaborunionsandleftwingpoliticalmovementstrainingstrengthTheGreatDepressionhadaprospectiveimpactontheglobaleconomy,leadingtotradeprotectionismandcurrencywarsItalsoexistsforpoliticalandsocialtensionsbetweennationsPART02ThecausesoftheGreatDepressionDirectcauseFinancialCrisisTheWallStreetCrashin1929sentshockwavesthroughtheglobaleconomy,leadingtoacollapseinstockpricesandinvestorconfidenceBankFailuresManybanksfailedduringthedepression,causingalakeofaccesstocreditandcapitalforbusinesses,whichledtofurthereconomiccontractsRootcauseEconomicbalancesPriortotheGreatDepression,theUSeconomyhasexperiencedaperiodofoverinvestmentandoverconsumption,leadingtoanexcessofcreditandabuildupoffinancialbalancesGlobalCompetitionIntenseglobalcompetitioninthe1920sledtoafocusonshorttermprofitsandspecificinvestments,comparedtosustainableeconomicgrowthPolicyreasonsRegulatoryFailureThelaissezfaireconomicpoliciesofthetimedidnotprovidesufficientregulationofthefinancialsector,allowingforexceptionalcalculationandriskinvestmentpracticesTradePoliciesProtectionisttradepoliciesduringthe1920screatedtargetbarriersthathiddenglobaltrade,leadingtoadecreaseindemandforUSexportsPART03ThesequencesoftheGreatDepressionEconomicimpactHighunemployment01TheGreatDepressionledtoasignificantincreaseintheunemploymentrate,leavingmilesofAmericanswithoutjobsFallingGDP02Thegrossdomesticproduct(GDP)oftheUnitedStatesfallssharplyduringthedepression,indicatingasignificantcontractineconomicactivityBankruptcyandfinancialcrises03Manybusinessesandbanksfailedduringthisperiod,furtherdestabilizingtheeconomyandleadingtoaseriesoffinancialcrisesSocialinfluencePovertyandhardshipRiseofextremeTheGreatDepressionledtowidespreadpovertyandhardship,withmanyfamiliesstrugglingtomeettheirbasicneedsPoliticalextremeandNazismgainedpopularityduringthisperiod,partiallyduetotheeconomicandsocialupliftSocialunrestTheeconomicshipsledtosocialunrest,withlaborunionsandotherorganizationsstagingtestsandstrikesInternationaldiscussionsImpactonworldeconomyTheGreatDepressionhasasignificantimpactontheglobaleconomy,leadingtoadecreaseintradeandinvestmentPoliticalinstitutionTheeconomicshipsledtopoliticalinstitutionandunrestinothercountries,affectinginternationalrelationshipsWorldWarIISomehistoriansbelievethattheGreatDepressioncontributedtothepoliticaltensionsthatledtoWorldWarIIPART04TheSolutiontotheGreatCompressionPolicyadjustmentsMonetarypolicyTheFederalReserveimplementedexpansionarymonetarypoliciestoincreasethemoneysupplyandresourceinvestmentandspendingThisincludeslowerinterestratesandthecreationofemergencyle...
