Economic Disasters
There is no precise definition of an economic collapse. The term has been used to describe a broad range of bad economic conditions from a severe, prolonged depression with high bankruptcy rates and high unemployment, such as the Great Depression, to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany), or even an economically caused sharp increase in the death rate and perhaps even a decline in population (Former USSR).
Often economic collapse is accompanied by social chaos, civil unrest and sometimes a breakdown of law and order.
Read more about Economic Disasters: Cases of Economic Collapse, Effects of War and Hyperinflation On Wealth and Commerce, Bank Holidays, Conversion or Confiscation of Accounts and New Currency
Famous quotes containing the words economic and/or disasters:
“A two-parent family based on love and commitment can be a wonderful thing, but historically speaking the “two-parent paradigm” has left an extraordinary amount of room for economic inequality, violence and male dominance.”
—Stephanie Coontz (20th century)
“Those who escape death in great disasters are surely destined for good fortune later.”
—Chinese proverb.