history of world crises

first known modern economic crisis occurred in 1821 in the UK.In 1936, the crisis was all the same in the US and the UK, in 1841 and 1847 respectively the second and third crisis has covered the United States.

first global economic crisis is considered to be the decline in 1857.Next to the end of the century the world was struck by three crisis.Then there was one of the most devastating crises of 1900-1901 years, which paralyzed the US economy and the Russian Empire and the negative impact on the entire global steel industry.

crisis of 1929-1933 is still considered the most disastrous for the world economy.Its center was the United States, where he went into history as the "Great Depression."Subsequently, however, the crisis h
as gripped the industrialized world.

After World War II, economists noted the weakening of cyclical fluctuations in the economy.However, vibrations began to occur more frequently, thereby clearly violating the classical theory.

The characteristic of the current crisis for the country?

to modern crises characterized by high inflation, resulting in a sharp drop in prices.During this period begins a sharp decline in production, accompanied by a steady decrease in business activity.The crisis is characterized by an absolute decline in demand for most goods and services, due to which there is a general oversupply of the market.This, in turn, pulls a rapid decline in prices, the decline in the banking sector, to stop production and rising unemployment.

gradual drop in business activity in the community and the slowdown in the economic literature is called a recession.The moment passes critical slowing pace begins recession.The lowest point of the recession is said to economic crisis.

consequences of the crisis for the economy

economic crisis gives impetus to the future development of the economy, serving as a stimulus.The crisis causes a reduction in production costs, streamline workflow and increase profitability.During this period, the adaptation to new market conditions competitive economy.The onset of the crisis completes the previous cycle of the economy, from the next, and is one of the most important mechanisms of regulation of market relations.