If they great depression was worldwide, why was there a depression at all?

280 views

If every country’s’ money was suddenly not worth as much, wouldn’t there be no effect? Like if the whole word decided collectively to make everything 50% cheaper, but make peoples pay also lower as well. Wouldn’t the buying power be the same?

In: 65

8 Answers

Anonymous 0 Comments

A depression isn’t money losing value relative to others, it’s a slowdown in economic activity. Everywhere, people stopped spending, stopped manufacturing/growing, etc.

You are viewing 1 out of 8 answers, click here to view all answers.