The Great Depression was the worst and deepest peacetime economic shock in the history of the industrialized world. It brought about profound social change and was a significant factor in the drift towards the Second World War.
The depth of suffering during the Depression years is hard for many of us to imagine today. More than 1 in five children in the city were suffering from malnutrition by 1932, and the Great Depression was only getting going at that point, it lasted seven more years.
So, why did events on Wall Street in 1929 reverberate around the world? Why did the depression last so long, and how did America and the rest of the world eventually dig themselves out of this financial hole?
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Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC
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Additional Reading:
Milton Friedman on The Great Depression: https://amzn.to/4fvMYF6
The Great Depression by Robert S. McElvaine: https://amzn.to/40Szajt
Essays on The Great Depression by Ben Bernanke: https://amzn.to/40Szajt
Keynes letter: https://www.economicsnetwork.ac.uk/archive/keynes_persuasion/The_Economic_Consequences_of_Mr._Churchill.htm
The U.S. Economy in the 1920s: https://eh.net/encyclopedia/the-u-s-economy-in-the-1920s/
Britain In The Great Depression: https://moneyweek.com/economy/uk-economy/602525/britain-didnt-have-a-roaring-20s-it-had-a-roaring-30s-heres-why
Michael Pettis in The FT: https://www.ft.com/content/ec1b730b-0fbf-3a8c-896a-557c06f730cf
The photographers of the Great Depression - Dorothea Lange, Walker Evans, and Arthur Rothstein
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