What year is the next great depression due in keeping with the economic cycle theory.?
economists don’t have crystal balls, and they acknowlege this, so they wouldn’t forcast a specific year for a ‘great depression’. The great depression was brought on by a series of events: 1) stock market crash 2) price level falls 3) consumption levels dropped 4) environmental hardships – droughts – destroyed farmers 5) high unemployment 6) government implemented high tarrifs to protect the domestic market but ended up harming it further all of these events created the Great Depression…also, pre great depression the government had adopted a ‘Laissez Faire/Classical Economics’ view to the economy – minimal intervention. Following the Great Depression, the government took a greater role in regulating the economy through monetary and fiscal policies (Keynesian Economics). Granted, an economic recession is likely coming up (depending on the magnitude of it, it may become a depression). The volitility in the american market and the falling value of the USD may lead to a ‘depression’. How
