1.Nightmare of 1929

  The story began in 1929 when the stock price crashed on the New York Stock Exchange.It is a history unprecedented in the economy that has been hit by a global crisis.The market economy collapsed and all capitalist countries suffered great damage. This event continued until 1939, hence the name of the Great Depression. In the immediate aftermath of World War I, the United States appeared ostensibly to be economically prosperous. In reality, it was completely different. Overproduction and unemployment continued to be a serious problem. Against this background, stock prices plummeted in October and the economy began to collapse in a chain. In 1933, 15 million people, or 30% of all workers, were unemployed.It was the worst crisis ever, and it caused great confusion around the world.


2. America at the Beginning of the Great Depression

 The Great Depression began with the financial crisis in the United States. First of all, in the late 1920s, the London stock market crashed. It contributed to the Wall Street crash in the United States, where 30 to 40 percent of GDP evaporated, 44 percent of the workforce was unemployed in Germany, and after the Great Depression, the market capitalization of the United States evaporated 88.88 percent.


3. A change in life caused by the Great Depression

 The social changes caused by the Great Depression are economically sufficient to be heard in the daily lives of ordinary people. Changes in food I started to eat meat called meatloaf, which is grilled with ground meat mixed with onions. Millions of people also managed to make ends meet in line for food distribution American health has improved relative to other times. Due to the lack of money due to unemployment, they spent relatively little money on cigarettes and alcohol, and the number of working hours decreased, so accidents at work also decreased. However, many citizens starved to death because of the Great Depression.


4. Pass

 The Great Depression again had a major impact on the global economy, politics, and social culture. The economic downturn has led to a sense of crisis that leads to the resurgence of exclusive nationalism in each country and the stagnation of democracy in World War II, a major war in human history. 
The United States, which was the epicenter of the panic, withdrew its investment in Europe, and Europe's market capitalization fell to a quarter of its previous level. The U.S. economy faltered, the U.S. closed its own markets, and it became a protectionist trade, and it also led to the sale of its goods to colonial countries by the fragile states of imperialism.


5. Let's not repeat this history

 Recently, the problem of inflation has become serious. The U.S. central bank is already raising interest rates. Because the U.S. dollar is a global reserve currency, other countries are following the U.S. in interest rates, and the economy has entered a recession. In this situation, I think there may be a second economic depression if countries do not make efforts.