About: Money & Financial Panics

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Four major crises occurred in the USA in 1825, 1873, 1907 and 1929 ending with the Great Crash in 1929. The first three passed off quickly and were followed by healthy recoveries. The one in 1929 led to the Great Depression and only ended with the onset of WWII. The objective is to examine the circumstances and events leading up to each of the four panics to identify the factors responsible for the financial booms which turned into bubbles and eventually led to panics. The factors responsible will include:

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rdfs:label	Money & Financial Panics
rdfs:comment	Four major crises occurred in the USA in 1825, 1873, 1907 and 1929 ending with the Great Crash in 1929. The first three passed off quickly and were followed by healthy recoveries. The one in 1929 led to the Great Depression and only ended with the onset of WWII. The objective is to examine the circumstances and events leading up to each of the four panics to identify the factors responsible for the financial booms which turned into bubbles and eventually led to panics. The factors responsible will include:
dcterms:subject	Research Article
abstract	Four major crises occurred in the USA in 1825, 1873, 1907 and 1929 ending with the Great Crash in 1929. The first three passed off quickly and were followed by healthy recoveries. The one in 1929 led to the Great Depression and only ended with the onset of WWII. Two contradictory factors can be seen in driving the markets to crisis: On one side, healthy economic growth and rising aspirations in society generated a real boom. On the other side, the desire to get rich by speculation rather than production led to spiraling stock prices leading to panic. These two factors are ever present, but usually the negative speculative urge is kept within limits, so that it does not destroy market confidence. In these four instances it spilled over in excess and resulted in panic. In the last instance it led to severe depression. The objective is to examine the circumstances and events leading up to each of the four panics to identify the factors responsible for the financial booms which turned into bubbles and eventually led to panics. The factors responsible will include: 1. * Real growth of the economy and GDP during the period prior to each panic and the factors that stimulated that growth. 2. * Expansion of the money supply that encouraged the rise in stock prices – either as a result of real economic growth and higher productivity or because of the expansion of banking or developments in money (e.g. paper currency) or because of speculative policies by the banks. 3. * Changing social attitudes toward production, wealth, consumption, social status, speculation and getting rich quick, etc. 4. * Underlying these factors, the growth of American society was driven by freedom, economic opportunity, education and rising social aspirations. 5. * Examination of the period before each panic to observe * Graphs and charts showing growth in GDP, money supply, inflation and stock prices * Factors responsible for each of these trends * Small, significant events that occurred shortly before the panic that explain why the boom suddenly turned into a bust. Bibliography: * Web-based articles on these subjects and relevant books on this subject

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