The Great depression

The Great depression

Background

The Great Depression, which was experienced by industrialized Western world during 1929-39, began after the crash of US stock market in October 1929. It was the longest and deepest economic downturn in history which badly hit some countries including US, however, the impact was this depression was also found to be mild in some countries including Spain and Scandinavian countries. On the converse, Soviet Union, China and Japan were found to be slightly impacted as they were isolated from the fiancé and trade worldwide (Schiller, 2008).

Consequences of the Great depression

As a result of the ...