The Great Depression is the first worldwide financial crisis which influenced the humanity greatly.
The crisis occurred in the beginning of the 20th century and touched upon every country of the world, no matter rich or poor. The USA faced the crisis in the 1930 and it followed till the year of 1933. The Great Depression is characterized with the crisis in industry, reduce of prices for agricultural products which makes the trade impossible, as the farmers did not want to sell their products for cheap. The crisis started when the prices for industrial products started to reduce rapidly because people did not need such a great amount of them and as a result factories and plants could not sell their production and started to fire a certain number of their employees. As a result unemployment appeared and the life of people started to reduce considerably.
Sometimes the level of unemployment reached 30% and it struck the economics of the country seriously. The most difficult life was observed in big cities, where people could not find job and food and the cases of suicide became extremely frequent. Only sensible solutions of the governments managed to stop the Great Depression and reorganize the world economics. Besides, the World War II was one of the factors which helped to solve the economic problem, because the governments started to donate money into the development of military industry and provided people with workplaces.
The topic of the Great Depression is very important for the humanity, because every global crisis is a big stress for the society, so everyone should know the cause and effect of the crisis to be able to cope with it professionally. It is generally believed that every crisis repeats in a certain period of time and the Great Depression was the first one which had started this chain, so it is important to know about this historical fact well. A good term paper should be interesting and describe the problem in detail. It is important to investigate the reasons of crisis, its types and its consequences.
One should read a lot to realize the cause of these events and the crisis of the world finance system. Besides, it is essential to understand how the crisis was defeated and what methods were used for it.
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