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:
“The American suffrage movement has been, until very recently, altogether a parlor affair, absolutely detached from the economic needs of the people.”
—Emma Goldman (1869–1940)
“Well had the boding tremblers learned to trace
The day’s disasters in his morning face.”
—Oliver Goldsmith (1728–1774)