11 CAUSES OF THE GREAT ECONOMIC DEPRESSION
The Great Economic Depression was a situation characterized by the collapse of the global economy. It started in the Canadian agricultural sector and by 1929, it had spread to Europe and the entire world after the collapse of the Wall Street Stock Exchange Market in USA in October 1929. The European economies were badly hit except Russia which had a communist economy, especially due to the fact that they were just in the post-World War I recovery process. The depression was characterized by mass unemployment, low prices, failure of agricultural markets, closure of banks and other industries leading to the decline in the standards of living. During the depression, there was also widespread violence characterized by riots and strikes, human misery and social-political tensions. Generally, during this period there were many goods but with less money to purchase these goods. THE CAUSES OF THE GREAT ECONOMIC DEPRESSION The effects of World War I of 1914-1918 led to the occurrence of t...