December 14th, 2010
In analyzing the current economic crisis are also drawn again and again parallels to the Great Depression of the 1920s. The first strong declines in industrial production have suggested such a comparison quite. For example, there is a similarity in the bursting of the bubble or the financial market problems, and there are clear differences in detail.The world economic crisis of the late 1920s was accompanied by an agricultural crisis in the aftermath, there was a sharp fall in agricultural prices in the mid-1920s. Technological progress had led to an expansion of agricultural production, mainly in the heavily agriculturally oriented economies – have worked with in Germany percent about 30 and in the U.S., around 20 percent of the workforce in agriculture – a significant burden of adjustment before the Great Depression created .
Against this historical background may be asked whether the commodity prices in recent years has also contributed to a worsening of the current crisis.