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)
“Those who escape death in great disasters are surely destined for good fortune later.”
—Chinese proverb.