Essay Database

The Great Depression of the world was triggered by a single event, the stock market crash of 1929. Obviously, the international economic collapse was not caused by that single event, but was the result of years of economic instability. The United States fell from prosperity to penury in a few weeks, but the European nations did not have the luxury to experience any prosperity at all. Ever since the resolution of the First World War, the …

…European nations' total dependence upon the American economy. The United States provided loans that held Europe together and stimulated European markets by importing foreign goods. Once the United States fell into depression, the rest of the world tumbled down along with them. The United States could no longer afford to provide loans or import foreign goods. On October 29, 1929, prosperity and economic stability ceased throughout humankind, as the Great Depression of the world launched its reign.