Running head: THE GREAT DEPRESSION AND WW II
The Great Depression and World War II
THE GREAT DEPRESSION AND WW II
The Great Depression
The Great Depression of the 1930s was a period where countries and particularly in
the developed countries of the West. Due to the length and the impact of the depression, it is
often referred to as the great depression since is exceeds those before and those after it. There
are many factors that are attributed to this depression. Among the most notable factors is the
non-debt deflation. Notably, the end of the 19th century had been hit by a huge wave of
inflation which occurred due to the industrialization (Ross, 1998). As many economies
attempted to find corrective measures for this inflation, this led to the lowering of prices to
way below the sustainable prices for many products such as the oil industry. The
industrialization had also caused an oversupply of many products due to a large number of
companies that led to a further drop in prices. As a result, many individuals, companies, and
governments alike went through huge losses that were untenable.
A large number of nations had also agreed to return to the traditional gold system...