HIST 103 Lecture Notes - Lecture 16: Roaring Twenties, Byrsonima Crassifolia, Investment Banking
Document Summary
In case of ww2, sustained econ growth and prosperity. In the capitalist world, it last for less than 25 years. 1972 - event that brought capitalist economy in halt - the opec oil embargo, which immediately drop the price of oil and brought the capitalist economy stand still. Ww1 was followed by brief period of continued prosperites (roaring 20s) Within 10 years, the most severe econ depression that world experienced, the collapse of big investment bank in the us that spread through out the global economy. That nancial collapse worked through its nancial system so some would not feel it through. Recessions - two consecutive quarters of negative growth, temporary, usually, come within couple of years e. g. brexit and uk economy. Depression - occurs when all of the economic indicators (price, wage, investment, trade, unemployment) went south and remained in the long period of time, part of normal biz and.
