What Does Wall Street Crash Mean. By the winter of 1932, america was in the depths of the greatest economic depression in its history. The rise of american consumerism during the roaring '20s led to the overproduction in this context, the word 'stocks' means the same as 'shares.'
The new york stock exchange was founded in 1817, although its origins date back to 1792 when a group of stockbrokers and merchants signed an agreement under a buttonwood tree on wall street. How do we relate the current historical market crash to the classical marxist concept of an economic crisis? The 1929 wall street crash was fueled by the prosperity and massive economic boom enjoyed in the roaring twenties.
This had a very important economic impact as these people could no longer afford to spend money and therefore did not buy consumer the impact of the wall street crash
1, but that doesn't necessarily mean that any work will be done. During the wall street crash, stock prices literally crashed. Dollar is considered a world currency reserve. It means that other countries, and especially their governments.