The most serious economic crisis in American history is undoubtedly 1929, which spread all over the world and indirectly triggered World War II.

First, let's talk about the root causes of the economic crisis.

According to the textbook of political economy in China, the root cause of the economic crisis is the drawbacks of the capitalist economic system itself. As long as the capitalist system exists, then the economic crisis will certainly occur, and its cycle is about once every 10 year. Of course, capitalist countries don't say that, but personally, the once-in-a-year economic crisis of 10 does exist, but the degree is different.

At the beginning of the 20th century, it was the capitalist countries that carried out the second industrial revolution. Compared with age of steam brought by the first industrial revolution, the electrical age brought by the second industrial revolution undoubtedly brought more drastic social changes. As a new country (if I remember correctly, it was founded around 1787), the United States did not benefit much from the first industrial revolution. The second industrial revolution made the United States and Germany surpass the old capitalist country Britain to become a leading developed country.

The large-scale production brought by the invention of the production line has given great opportunities for the development of industrial enterprises, and some industrial enterprises have become extremely developed and rich. But the American view is that the government should not participate in any market behavior. In fact, they think that the government should not have too many rights. Without the government's macro-control, monopoly and oligarchy will appear.

Behind the prosperity of the upper class and the rapid expansion of the middle class, the gap between the rich and the poor in American society has reached an unprecedented level. In the 1920s, the United States ushered in another wave of immigrants. These immigrants mainly from southern and eastern Europe and farmers who came to cities because of the industrial revolution formed a huge lower class.

At the same time, the American stock market was bullish all the time. In such a good situation, no one wants to deposit money in the bank, and everyone is flocking to the stock market. In fact, these superficial economic booms are just bubbles. By1October 29th, the new york stock market crashed suddenly, 1929, and everyone went bankrupt. When people realized that the previous prosperity could not come again, the economic crisis had arrived.

At this time, many people went bankrupt, and no one was willing to spend money, so small businesses and farmers also went bankrupt. A vicious circle. The unemployment rate is extremely high, and even those who have jobs, their wages are completely insufficient to support their lives. Rich capitalists prefer to burn corn and pour milk into the sea to maintain prices.

The unprecedented 1929 Great Depression has arrived.

Affected industries:

1929 the economic crisis has no impact on some industries. There is not an industry that has not been affected.

The industries hardest hit are: small private enterprises, agriculture, banking and stock market.

Afterthought:

1929 the economic crisis began with the stock market crash in new york, but the United States is not the only country suffering from the economic crisis. In order to save the economic crisis, Japan, Germany and Italy embarked on the road of fascist dictatorship, while in the United States, the second President franklin roosevelt (his distant relative Teddy Roosevelt was also president) saved the United States.

President Roosevelt's greatest act was to strengthen centralization. He passed a series of bills, including:

1. Increase social projects and give young people work and confidence while building projects.

2. Protect the banking industry, organize small and medium-sized banks, and let funds circulate with each other so as not to go bankrupt.

3. Restrict monopoly and oligarchy, and strengthen the regulatory position of the government in the market economy.

Under President Roosevelt's bill, the American economy began to recover gradually. Although it will not reach the level before 1929 and 10 in the next 30 years, it will not completely die.

The formal end of the economic crisis is the beginning of the Second World War.

Since then, earth-shaking changes have taken place in American society.

The most important change is that Roosevelt's New Deal brought unprecedented power to the central government. Since the founding of the United States, Americans have always believed in a weak central government. As can be seen from the Constitution of 1787, the Founding Fathers tried their best to limit the power of the government. Roosevelt fundamentally changed Americans' attitude towards the government, and now they see the benefits that a strong government can bring and the chaos of anarchy.

Since then, American foreign policy has also changed. They have tried their best to remain neutral and avoid participating in any international disputes. World War II began at 1938, and the United States entered the war at 1942 because of the Pearl Harbor incident at 194 1. After World War II, the United States actively planned the United Nations.

From this, it can be seen that 1929 the main post-event reflection of the American economic crisis is to strengthen centralization and change foreign policy.

That's about it ... I'm tired of playing ...................

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