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Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
It was Henryk Grossman [20] in 1929 who later most successfully [21] rescued Marx's theoretical presentation ... 'he was the first Marxist to systematically explore the tendency for the organic composition of capital to rise and hence for the rate of profit to fall as a fundamental feature of Marx's explanation of economic crises in Capital ...
Such theories include claims that the COVID-19 pandemic was created by a secret group in order to seize control of the global economy, [1] that lockdown restrictions were deliberately designed to induce economic meltdown, [16] or that a global elite was attempting to abolish private property while using COVID-19 to enslave humanity with vaccines.
Societal collapse (also known as civilizational collapse or systems collapse) is the fall of a complex human society characterized by the loss of cultural identity and of social complexity as an adaptive system, the downfall of government, and the rise of violence. [1]
The view that a "breakout" from the Malthusian trap has led to an era of sustained economic growth is explored by "unified growth theory". [4] [93] One branch of unified growth theory is devoted to the interaction between human evolution and economic development. In particular, Oded Galor and Omer Moav argue that the forces of natural selection ...
Critics declared that history proved the projections to be incorrect, such as the predicted resource depletion and associated economic collapse by the end of the 20th century. [27] The methodology, the computer, the conclusions, the rhetoric and the people behind the project were criticised. [28]
Economic indicators, such as gross domestic product, growth and low unemployment usually boost consumer sentiment. However, economists have noticed a dislocation in this trend in recent years.
Panic of 1847: a collapse of British financial markets associated with the end of the 1840s railway boom. Also see Bank Charter Act of 1844. Panic of 1857: pervasive USA economic recession with bank failures. The world economy was also more interconnected by the 1850s, which also made the Panic of 1857 the first worldwide economic crisis. [52]