Analisis del salario
In 2007 a severe financial crisis started in the U. S., and didn’t show any recovery until more than 12 months later, this takes to establish a comparison with the other crisis in this country, the Great Depression back in 1929. My thesis is that so far, the current crisis has cost higher loses around the world, than the Great Depression. To prove this, several facts will be considered.
The Great Depression
The Great Depression was a worldwide economic crisis that started around September 4, 1929 and will be known around the world on October 29, 1929, also called the Black Tuesday, with the crash of the US stock market. Every country was …ver más…
Effects Latin-American and Asia Impacts of the Great Depression were softer in Latin American and Asia than in the US and in Europe, however it also had effects. In Latin America the crisis damaged economies of countries like Brazil, Peru, Bolivia, etc. An Example of effect is that Brazil had to start with the industrialization process because of the devaluation of coffee. (4) Another Country that was affected as Chile. Chile´s GDP dropped 14%, mining income declined 27%, and export earnings fell 28 %. (1) Asia wasn’t so affected but it also had consequences. For example in Japan, the economy shrank 8% during the period of 1929-31. (8) Europe: Europe was deeply affected by the crisis. Germany got a high level of unemployment, it was near the 30% in 1932 and this depression led the country to a political extremism and in 1933 Hitler’s Nazi Party was born. The United Kingdom was one of the most affected countries around the world. By the end of 1930 unemployment reached levels of 20%, and exports fell by 50%. In some towns and cities in the north east, unemployment reached as high as 70% as ship production fell 90%. (1) USA: In 1933 the unemployment level got to 25% from 3,2%, leaving more than 15 million Americans out of work. In the time between 1932