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To: Ilaine who wrote (128)	3/30/2001 8:55:12 PM
From: JF Quinnelly	Read Replies (1) of 443

The Great Depression was primarily an economic and monetary event. There's no reason to seek causes in political events, other than those that impacted banking and investment. America was virtually an economy unto itself at the time. International trade accounted for only 5% of its GNP. If America sneezed the rest of the world caught cold. But not vice versa. The Ukraine famine was a horror to Ukrainians, but it didn't have much impact outside of the USSR. Ethiopia was a backwater. Hitler rose to power after the Depression was already well under way. Mao didn't take power until after WWII. Same for Ghandi. Mussolini's Italy couldn't have pulled the world into Depression even if he'd made all the trains run behind schedule. Its economy was too small. WWI was a huge event that dwarfed all the above factors. But even it didn't cause a Depression, only a few years of inflation. Followed by 10 years of prosperity that mysteriously ended. There's always political upheaval going on. You could have found plenty throughout the 19th century. But there was nothing to compare with the Depression, just a series of panics and recessions.

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