10 famous examples of economic collapse
While it is important to meet certain economists and their works, for example Keynes, Hayek, Marx or Friedman, it is also worth taking some time to investigate what happens to global and local economies when there is an economic collapse or other form of failure. From the market.
Although there have been a number of events in recent times, with the financial crisis of 2008 perhaps the most mentioned, economic collapses are not a phenomenon of the 20th and 21st centuries. For example, there were a series of speculative crashes and bubbles in the 17th and 18th centuries, such as:
- The tulip mania in the Netherlands in the seventeenth century.
- The Mississippi Bubble of the 18th Century.
- The French Revolution of 1789 .
If you spend some time researching these crises, you may start to see some similarities or patterns in why economic collapses occur and how they can be resolved to bring countries back to economic growth.
One of the most famous economic collapses was the Great Depression, which was triggered by the Wall Street Crash in 1929. Sending the world into years of global recession, the collapse has been well documented and widely discussed, so there is a lot of relevant material. and interesting on the subject if you want more information.
Of course, you can also get in touch with a Superprof teacher, who can teach you the main economic collapses in more detail and tell you interesting anecdotes and facts that you can quote in your next essay or exam.