98) the 1929 crisis Written by Rainer: rainer.lehrer@yahoo.com Learn languages (via Skype): Rainer: + 36 20 549 52 97 or + 36 20 334 79 74

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The 1929 crisis From 1816 to 1914, there was a worldwide exchange of goods, which was promoted by the increasing use of the steam engine as a means of transport and controlled mainly by the English, who used their overseas provinces as a raw material store and the European mainland as a sales market. With the beginning of the First World War, this trade collapsed because all countries adjusted only to supply the market in their own country. This should not change even after the "Great War", as it was called back then. The reconstruction of destroyed buildings, industry, infrastructure etc. and renewed private consumption first caused the economy to revive. When this wave subsided, capital fled the stock market into dead assets like gold and buildings. As a result, the stock exchange was unable to fulfil its function as an intermediary between investors and major projects. The flow of money and with it the economy came to a standstill. Back to list!

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