The Great Depression Essay - Essay Prowess

The Great Depression Essay

Most of the available literature concerning the Great Depression only offer a reflection of the situation as it affected the American economy. However, the Great Depression occurred on a global scale such that the European continent including also suffered much as a result of the economic meltdown[1]. The dire economic conditions were however as a result of unequal distribution of wealth, incompetent financial systems, speculative trends among international stock market players, agricultural over-production and over-production in the global manufacturing industry environment[2]. This paper seeks to point out that the revolutions which occurred in Europe prior to the Great Depression played a role in the global economic breakdown.

Communists in Russia, Fascists in Italy and Nationalist Socialists in Germany moved into power and as such, vehemently championed for ingrown or domestic economic prosperity in an effort to protect the relatively new political establishments[3]. The US on the other hand simply suffered as a result of a poor or weak banking system. The Communists under Stalin’s leadership looked to push for economic prosperity through advance

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