Will the next depression be worse than the 1929 depression?

Answer 1

The next one will probably not be as bad as that one but I guarantee there will be one that is worse eventually. History is full of major disasters and given enough time, there will besomething that will cause a huge one down the road.

Answer 2

The Great Depression (also known in the U.K. as the Great Slump) was a dramatic, worldwide economic downturn beginning in some countries as early as 1928. The beginning of the Great Depression in the United States is associated with the stock market crash on October 29, 1929, known as Black Tuesday. The depression had devastating effects in both the industrialized countries and those which exported raw materials. International trade declined sharply, as did personal incomes, tax revenues, prices and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by 40 to 60 percent. Mining and logging areas had perhaps the most striking blow because the demand fell sharply and there were few employment alternatives.

The Great Depression ended at different times in different countries; for subsequent history see Home front during World War II. The majority of countries set up relief programs, and most underwent some sort of political upheaval, pushing them to the left or right. Liberal democracy was weakened and on the defensive, as dictators such as Adolf Hitler, Joseph Stalin and Benito Mussolini made major gains, which helped set the stage for World War II in 1939.


BUT that was long time ago, such thing won't happen again!

Answer 3

No. We know a lot more about how to manage monetary policy now, so the mistakes make in the 1930's will not be repeated.