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:
“Politics at all times lead to bloody wars, and not only politics, but also religions as well as social and economic systems of all times are spattered with blood. Invariably the big ones devoured the little ones, and the little ones the tiny ones.”
—Friedrich Dürrenmatt (1921–1990)
“Those who escape death in great disasters are surely destined for good fortune later.”
—Chinese proverb.