DE-Libros y Capítulos de libro

URI permanente para esta colecciónhttps://hdl.handle.net/10953/496

Examinar

Mostrando 1 - 1 de 1

The Great Depression of 1929: crisis in the world economy
(Routledge (Taylor & Francis Group), 2023) Matés-Barco, Juan Manuel
Between 1929 and 1932, the world experienced one of the worst depressions in history. The existing state of economic science was powerless to solve the problem and the decisions taken by governments were, on the whole, misguided. Policies tended to be protectionist in nature, designed to insulate national economies from external "contagion". Attempts at international cooperation failed at the London Conference of 1933. Each country avoided "external contamination" and sought to "export its unemployment" through protectionist policies. A case in point is the United States, which imposed very high tariffs. At this juncture, the depression spread very quickly, mainly because of the sheer scale of the US economy compared to the rest of the world. In 1929, 40% of world manufacturing production was located in the United States; its imports represented 12% of the world total while its exports accounted for 15.8% globally.