Reflection #1: Causes of the Great Depression

(Continuity and change) Could the causes of the Great Depression happen today? Are we in any of those situations that were happening in the Roaring 20s?

The Great Depression is a significant historical event that happened in the past. The Great Depression was caused by a stock market crash in the 1920’s. When some investors started selling their stocks in order to cash in on high profits, others rushed to sell also. As a result, stock prices fell. On Black Tuesday, October 29, 1929, the New York Stock Exchange collapsed, followed by the Toronto and Montréal Stock Exchanges. I think the causes of the Great Depression could happen again because of the recent issue of COVID-19. Many stores have shutdown and even small businesses. Many people have been impacted by this pandemic financially. Lots of people have lost their job due to this issue and even companies have not been able to run because of safety reasons. The pandemic is the only thing I believe that could cause a Great Depression. The only other reason I can think of is if another war were to happen.

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