What are the similarities and differences in the causes of the current global economic crisis and the Great Depression and to what extent can ... solutions in the current circumstances?
Автор:Frederik Schroder Год: 2012 Издание: [не указанo] Страниц: 28 ISBN: 365613006, 365613006X, 365613006X Essay from the year 2009 in the subject Economics - Finance, printed single-sided, grade: A, University of Otago, language: English, abstract: The global economy is currently facing a severe recession with falling output, rising unemployment and a high degree of uncertainty. Parallels can be drawn between the causes of the current crisis and those of the Great Depression of the 1930s. The most salient causes of the Great Depression were a speculative bubble, the resulting stock market crash of 1929 and misguided policy reactions by central banks and governments. Tight monetary policy and a fallback to protectionism led to the collapse of the international economy. This further created business uncertainty, which together with financial disintermediation and bank runs resulted in shattered confidence levels and a subsequent, hardly stoppable, downward spiral of economic activity. Similarly, the current economic crisis began with a speculative asset bubble crash, followed by a shortage...
