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Why did Australia lead the world into Depression in the late 1920s and suffer its effects so gravely and for so long?

Australia suffered significantly during the Great Depression of the late 1920s. Australia was one of the worst effected countries in the World. This essay will look at why Australia lead the world into Depression in the late 1920s and why it suffered from it's effects for so long. A depression is defined as "A period of drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and unemployment." 1 During a depression money becomes limited which in turn leads to businesses going bankrupt and causing workers to lose their jobs. This usually leads to a downward spiral that can continue for some time. The Great Depression was one of the most severe depressions in modern times. A depression can be situational, regional or even global. The Great Depression is considered to have begun in 1929 after the stock......

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Approximate Word Count: 1632
Approximate Pages: 7 (250 words per double-spaced page)

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