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AURICOIN

United States Economic Crisis 1929

Auricoin is certain that having the knowledge of the causes of the crises, we will be able to correct those imbalances that caused them, which will achieve a change in the economy, benefiting all humanity.

United States economic crisis 1929

1929 Crack: Causes, Development, and Consequences

The crack of 1929 was one of the biggest crises ever known that erupted on October 24, 1929. On this date, the Wall Street stock market suffered a drop in price. This caused the ruin of many investors, both large executives and small shareholders, the closure of companies and banks. This led to unemployment for millions of citizens. However, the problem was not only in New York, it spread to almost every country in the world as a domino effect. It affected both developed and developing countries. Europe was recovering from the consequences of the First World War, so its situation worsened. What began as a simple drop in the New York Stock Exchange in the fall of 1929 soon became the biggest crisis in the history of capitalism.

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