History & Area Studies / Thematic History / Economic History & Industrialization
The 1929 Trade Collapse: Why History's Crash Makes 2008 Look Like a Blip
Think the 2008 trade crash was bad? The Great Depression's trade collapse in the UK was 10 times worse. This video dissects the anatomy of that collapse, revealing shocking parallels and stark differences. We dive into the micro-level data: why car trade vanished while food held steady, how protectionism in 1931 twisted trade flows, and the surprising role of price deflation. Based on a study by Alan de Bromhead, Alan Fernihough, Markus Lampe, and Kevin Hjortshøj O'Rourke, we uncover the physics of economic crises. Watch to understand why history's lessons are more relevant than ever for our global economy.
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