The great depression.

THE GREAT DEPRESSION

What attempts were made to try and solve the problem of the vast Depression in Australia and why did they have so exact success?

The Great Depression of the 1930s is a metre that will always be remembered around the world as the worst economic slump ever to affect the US, and so the rest of the industrialised world. The Depression brought with it many ramifications such as a huge drop in the living standards of the work class, the collapse of many nations economies and mass political upheaval and division. The essential causes of the Great Depression lie much deeper than the simple contend Street crash, and have their roots in the decrease in foreign trade, the everywhereproduction of goods and the uneven distribution of wealth in the 1920s. As a result, attempts to find solutions to this worldwide catastrophe were the witnesser of much debate and controversy in Australia for much of the slump era.

A depression is a massive economic slump or a long period of industrial and financial decline. capitalistic economies such as Australias revolve on what is known as the trade cycle. This is the fluctuating (rising or falling) of the levels of economic activity over a period of time.



As the demand for goods rises, as good as the levels of employment and profits, the economy grows and reaches a high signify in the trade cycle. However, a recession then occurs as the boom economic conditions level off and begin a downward movement. If this downward movement does not begin to upturn and take down a period of recovery, then a depression results as has happened in the 1840s, 1890s and on a larger scale, in the 1930s.

Following the events and sacrifices of World War I, many people thought on that point were...

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