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OUTLINE THE MOST IMPORTANT CAUSES OF THE GREAT DEPRESSION. PROVIDE APPROPRIATE EVIDENCE TO ILLUSTRATE THE SCALE OF THE GREAT DEPRESSION IN ADVANCED NATIONS The Great Depression was the largest economical disaster ever to have happened. Unlike World War One, fiftee ....

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.... distribution in income that existed and the lasting effects of the war in the form of debts owed to the US. To understand the sheer consequence of the Great Depression we can consider a normal economy. Most economies experience a ‘Boom and Bust’ cycle, where economies fluctuate between times of prosperity and times of recession. The economist Maynard Keynes believed these cycles would occur roughly every seven years (1). However, the Great Depression was more than a normal recession and nearly saw the end of the Capitalist system, as we know it. None of the capitalist economies had predicted it, and none of their businessmen were prepared f ....