Essay: The effects of the Great Depression

Sample Essay

Germany also got affected by the great depression as unemployment rate touched the extreme limits. Latin America suffered greatly due to the great depression as United States had higher levels of investment in Latin America. The impact of great depression on United States and United Kingdom were devastating as the Banking sector greatly failed and so the infrastructure caused the nations to suffer from extreme poverty, mortgage and unemployment. Other most affected countries were Soviet Union, South Africa and Netherland (Rothbard, 2000).

Great depression was a global epidemic from 1920s to 1930s as constant devastating blows of great depression on the economies of the countries gave rise to the societal and political changes. The war of racism between whites and blacks became severe during the era of great depression. The great depression became the topic of writing for many authors as it had been the reason behind emotional trauma among nations.

It took almost thirty years for the western countries to get away with the great depression. There have been many economic downturns in the global village but none was equal to the effects and consequences of the great depression during 1920s and 1930s.

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