COMPARISONS BETWEEN THE LONG DEPRESSION, THE GREAT DEPRESSION and THE GLOBAL FINANCIAL CRISIS

Abstract

Depressions are prolonged periods of economic downturns often characterised by a rise in unemployment, general fall in commodity prices, lower production levels and in many cases, lack of credit facilities or borrower apathy. Depressions are in many cases triggered by events in a specific economy or a limited number of economies even though their effects tend to transcend the national borders of the economies in question. Three of the most acclaimed depressions that have had a global effect include the Long Depression, the Great Depression, and ongoing the Global Financial Crisis. This paper undertakes to explain the causes of such depressions. It focuses on their origins, their durations as well as the impact of such depressions on the different economies around the world. The paper also draws similarities and differences between the three global depressions as well as the actions taken to end them while highlighting the influence of politics in shaping the events before, during and after the depressions.

Keywords

• Long Depression,Great Depression,Global Financial Crisis

UZUN BUHRAN, BÜYÜK BUHRAN ve KÜRESEL FİNANSAL KRİZ’İN KARŞILAŞTIRILMASI

Öz

Ekonomik buhran, genellikle beraberinde işsizliğin artması, emtia fiyatlarının düşmesi, üretimin azalması ve birçok durumda kredi imkânlarının azalması veya borç alanların ilgisizliğini de getiren uzun süreli ekonomik durgunluktur. Ekonomik buhranlar genellikle bir veya birkaç ülke ekonomisindeki olaylar tarafından tetiklense de, buhranın etkileri söz konusu ülkelerin sınırlarını aşar. Küresel bir etki yaratmış olan ve tarihsel olarak en çok öne çıkan ekonomik buhranlardan üçü Uzun Buhran, Büyük Buhran ve devam etmekte olan Küresel Finansal Kriz’dir. Bu makalede sözkonusu bunalımların temel sebepleri ele alınarak, söz konusu ekonomik bunalımların kaynakları, süreleri ve farklı ülke ekonomileri üzerindeki etkileri incelenmeye çalışılacaktır. Makalede ayrıca küresel çapta yaşanmış ve yaşanmakta olan bu üç ekonomik buhran arasındaki benzerlikler ve farklılıklar ile bu buhranları son erdirmek için alınan önlemler ele alınacak, politikanın buhran öncesinde, esnasında ve sonrasındaki etkilerine dikkat çekilecektir.

Anahtar Kelimeler

• Uzun Buhran,Büyük Buhran,Küresel Finansal Kriz

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