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Economics Crisis Speaker:杨光 Yang Guang 2012011694 World Economic Crisis Causes Prominent Events In History Main characteristics Influences Lessons Causes The mistakes of economic policy; The shortage of the raw material( oil crisis); Natural disasters; The consequences of the globalization; The wrong of financial policies;… The primary cause of economic crisis is the capitalistic system. The radical contradiction of the capitalism is between the sociality of the product and the private possession of the capitalism. Obviously because of this, it is inevitable that the economic crisis happens every decades of years regularly. Prominent Events In History The first world economic crisis in 1857 The 1929-1933 economic crisis in capitalist world Tulip Mania(郁金香狂热) in 1637 South Sea Bubble(南海泡沫)in 1720 Oil Crisis during 1973-1975 Black Monday in 1987 Southeast Asian Financial Crisis in 1997 The American economic 【the subprime crisis(次贷危机)】 The 1929-1933 economic crisis in capitalist world During this period,the stock market on Wall Street in New York City got into a serious situation that people started selling shares madly due to the slump of share prices. Later,its effects spread to the whole world:banks faced bankruptcy one by one.At the same time,factories along with corporations closed down;the rate of unemployment jumped up;the income of farmers went down. The disaster continued till 1933 and it took several years for many countries to regain prosperity. Influences Economic decline(经济滑坡), stock market crash (股市崩盘), acclaim(公司倒闭), individual bankruptcy(个人破产); Social turmoil (社会动乱), such as parade and demonstration and bashing(聚众闹事); Coup détat(政变) such as fascism in Germany, Italy and Japan; Adjustments in the national economy, such as Roosevelt‘s new deal(罗斯福新政); Becoming the root of wars: for example, Germany, Italy and Japan let loose the dogs of World War II in order to in order to transfer the crisis to other countries ; The transformation of econ
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