Volume 03 Issue 02-2023
82
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
03
I
SSUE
02
Pages:
82-85
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
(2023:
7.
164
)
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
ABSTRACT
This article will briefly mention the crisis in the largest European countries, its impact on countries such as England,
France, Italy and Spain, as a result of which 25% of the total labor resources have lost their jobs and created an army
of the unemployed, the implementation of measures that contradict the market economy, such as the application of
dumping policies, etc.
KEYWORDS
Crisis, Europe, USA, Finance, unemployment, commodity, Great Depression.
INTRODUCTION
The crisis shook mainly two dynamically developing
countries-the United States and Germany, but it also
caused significant damage to the economic
development of other relatively small countries, such
as England, France, Italy and Spain. The crisis in
industry was accompanied by the crisis in agriculture.
A decrease in demand for agricultural products led to a
drop in prices and the meeting of farmers in mass
production. Large-scale disposal of products was
carried out to keep prices. Thousands of tons of meat,
thousands of liters of milk were destroyed, coffee
beans were thrown into the sea or worked to cover the
asphalt, wheat Groats were paged, cotton mills were
set on fire, fruit trees were cut down. All this was done
in the eyes of millions of hungry people.
The crisis that covered the financial system
exacerbated the situation. To be more precise, the
Research Article
WORLD ECONOMIC CRISIS OR GREAT DEPRESSION
Submission Date:
February 14, 2023,
Accepted Date:
February 19, 2023,
Published Date:
February 24, 2023
Crossref doi:
https://doi.org/10.37547/ajsshr/Volume03Issue02-15
Abdullayev Bahromjon
Andijan State University, Faculty Of History, Teacher Of The Department Of World History, Uzbekistan
Journal
Website:
https://theusajournals.
com/index.php/ajsshr
Copyright:
Original
content from this work
may be used under the
terms of the creative
commons
attributes
4.0 licence.
Volume 03 Issue 02-2023
83
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
03
I
SSUE
02
Pages:
82-85
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
(2023:
7.
164
)
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
crisis had actually begun with the breaking of American
banks, which stopped paying customers because they
had no cash left. As a result, the currency of 56 States
was devalued, the gold standards of the dollar and
pound sterling were liquidated.
This crisis began with a recession that occurred on the
New York Stock Exchange, according to data, on
October 28-29, 1929, there was a sudden decline in the
main indexes of the exchange by 25%. Despite the
efforts made to remedy this situation and bring it to a
previous state, the price collapse continued. It was
noted that, having reached its peak in 1933, the Dou-
Djons index fell by 83%, that is, from 365 to 63 points.
This situation gradually led to the fact that the entire
American economy, in particular, industries and
industries, became completely retail.
Between 1929 and 1933, the US gross domestic product
fell by 46%, and the Consumer Goods Price Index-by
32%. The waste of farmers, on the other hand, has
become even more deplorable than in other industries
and industries, the cost of agricultural products has
decreased by 60%, and the number of unemployed in
the economy reaches its unprecedented level. As of
1933, 25% of the total labor resources had lost their jobs
and created an army of the unemployed.
In the US, the unemployment rate in the 1910s and
1960s, the 1929s and 1939s of the Great Depression
were highlighted.
In July 1930, the smuta-Houli duty for imports was
introduced in order to protect the American economy
from incoming goods and services from outside and
Volume 03 Issue 02-2023
84
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
03
I
SSUE
02
Pages:
82-85
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
(2023:
7.
164
)
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
strong competition. The average cost of this state duty
was set at 40 percent for all incoming goods and
services. As a result of the policy of strong
protectionism and the establishment of state duties at
a high rate, the economy of European countries is also
gradually beginning to be affected.
One of the first, at that time, the economies of
countries with large trade relations with the United
States, in particular, the countries of Great Britain,
Germany, France, begin to suffer great casualties.
During the crisis (1929-1933.) industrial production
volumes were down by 24% in the UK, 41% in Germany
and 32% in France. This results in a decrease in the value
of shares of these enterprises by 48% in the UK and 60%
in France.
The crisis in the largest European countries is beginning
to cover all of Europe. Statistical indicators testify that
the index of industrial production decreases in
Czechoslovakia
–
by 40 %, in Poland
–
by 45 %, in
Yugoslavia
–
by 50%. Worse, this crisis acquires a social
character and also causes mass unemployment.
According to official data, the number of unemployed
people caused by the Great Depression, which had its
influence on 32 countries in 1933, amounted to 44
million. of which 14 million were made up of a person.
one was right in the USA.
The global economic crisis lasts almost 10 years. This, in
turn, had begun to have a serious impact on their
political systems, while derailing the economies of the
countries. In these years, the imposition of measures
contrary to the market economy, such as unfair
struggles to occupy the market, comprehensive
encroachment on International Trade Freedom, the
escalation of state duties and quotas established for
imported goods, trade and currency wars, the
application of dumping policies, caused the emergence
of hegemonic appetites associated with the vice of
mutual
disputes
between
states
and
the
establishment, the further growth of movements, as
well as the emergence of geniuses such as Adolf Hitler
on the world stage, is well remembered by history.
Alalakibat, the “Great Depression” that began in
America, will lead to the outbreak of the Second World
War in European fields.
This economic crisis is known as the “Great
Depression” and is considered one of the most studied
and numerous studies carried out, with its enormous
negative consequences and the scalability of its socio-
economic damage to the world economy. The crisis left
a deep mark in history with a sharp decline in economic
activity, the abandonment of the gold standard of the
main world currencies, a sharp increase in the number
of unemployed and the damage it caused to its
economy, a decrease in the volume of consumption.
REFERENCES
Volume 03 Issue 02-2023
85
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
03
I
SSUE
02
Pages:
82-85
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
(2023:
7.
164
)
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
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