Why Economies Succeed or Fail during the Great Depression

Question 2: The Great Depression
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Mathematics and Economics
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Question 2: The Great Depression
Causes of the Great Depression
The Great Depression was an austere worldwide financial depression in the 1930s, starting in the United States. One major cause of the Great Depression was the ensuing global crisis. Europe had not settled after the First World War and faced severe consequences. The United States was the primary exporter to Europe at the time. Financial institutions in Europe had taken loans from the U.S. and could not pay (Baubeau et al., 2021, pp. 223-250). The banks halted the loans, bringing down Europe's buying power, setting the stage for this Great Depression.
Another cause of the Great Depression was the stock market crumble. The Roaring Twenties provided approximately all U.S. investors and bankers a wrong sense of pride, particularly those engaged in stocks. Stock prices started declining causing panic resulting to approximately all stockholders wanting actual money in possession. As a result they traded all shares within a short span (Bianchi, 2020, pp. 240-261). The panic rose, and stock corporations rushed in to control the circumstance.
Recovery Approaches
The time between 1929 and 1933 portrayed the profundity of the Great Depression. In 1933, President Franklin D. Roosevelt assumed office, steadied the banking framework, and abandoned the gold standard. The action...