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The history of mankind is full of events, the true meaning of which often becomes apparent only after many years of calm and the extinction of daily disputes. This distancing makes it easier to find consensus, at least in certain evaluation frameworks, and to build a clearer picture than contemporaries can do.
The Great Depression was not like that. From the beginning, it was clear that there were hitherto unprecedented difficulties, that the era was coming to an end, and that the water had not yet been measured. And at the same time, it is different because, even after many years, it is very difficult to find a common approach to the causes of the greatest economic crisis in history, the mistakes made and properly assess their consequences. One thing is clear: This process has vastly changed the history of the world, and the ongoing controversy only confirms that the lessons of the crisis have not been learned.
Delfi invites us to look together at one of the most significant events of the 20th century, which changed the lives of hundreds of millions of people, faced entire states and eroded fertile lands during the most terrible of the 20th century. ideologies to unfold and unite.
To facilitate understanding of the causes and consequences of this decade-long process, Delfi spoke with Harold James, an American economist at Princeton University who professed the phenomenon of the Great Depression as a plane crash.
“It is reminiscent of a plane crash, it is very difficult to trace a specific cause.” Maybe it’s an airplane design flaw, maybe a specific pilot flaw, maybe bad weather and lightning that day. I think you can at least try to understand the Depression to understand everything by looking at the long-term consequences of the aftermath of World War I as a continuation of those phenomena, ”said James.
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