Term Paper on the Great Depression

The Great Depression is the serious global economic crisis which started in 1929 and lasted till the end on the 1930-ies. The chronological boundaries in different countries vary but the strongest impact the crisis made in Western Europe and the USA at the beginning of the 1930-ies.

Generally, the Great Depression is the global financial crisis, but it is mostly associated with the US. The Great Depression is the most serious and the longest financial crisis in the human history and it is the indicator of the unfavourable condition of the improper economic structure. The crisis had extremely negative impact on all the people no matter what their social class is. Both the rich and the poor lost their money, the global trade reduce in 50%, the unemployment reached the pick of 25% in the US and 33% in Europe. The Great Depression started in October 29, 1929 and this day is also known as Black Tuesday. The stock market of Wall Street crashed and started the economic crisis in chain.

The most serious effects of the Great Depression were the increase of the unemployed people; the fall of production (which threw the world back to the level of the beginning of the 20th century); the condition of the farmers, workers, the middle class became tragic as the people were close to poverty; the global crisis increased the popularity of the communist and radical parties and political movements (for example, the fascist party in Italy, Nazis in Germany). The end of the Great Depression is connected with World War II, which made countries produce and purchase weapon and machinery, so that to restore industry. The pre-crisis condition of the stock markets was reached only in 1954.

The Great Depression is the strong economic crisis which affected the financial background of the developed western countries. The student who is writing the term paper is obliged to analyze the problem in the right way, understand the cause of the crisis and evaluate its impact on economics and financial condition of the average person. The student should study the periods of the Great Depression, its aspects, principles, impact, geography, attempts to restore the economics and the defeat of the crisis. Finally one should evaluate the problem objective and compare the Great Depression with the modern crises.

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