1In the autumn of 825, the first national industrial crisis broke out in Britain, which was the first crisis of overproduction in the history of capitalism. The crisis lasted for seven or eight months and ended in the summer of 1826. The crisis hit all sectors of British industry, especially cotton spinning, and cotton consumption fell by nearly 50%. Cotton prices fell by 59%, pig iron prices fell by 27%, and coffee prices fell by 39%. About 80 banks went bankrupt and 3,549 industrial and commercial enterprises went bankrupt. Wages of textile workers in Manchester decreased 10%.
2. 1857, the world economic crisis (first occurred in the United States).
The crisis first occurred in the United States, and then spread to Germany, France and Britain. It has attacked all fields of economic life in these major capitalist countries and is a worldwide crisis. The external driving force of this crisis is the fall in food prices, which leads to the reduction of the whole industrial production. The pig iron production and cotton consumption in the United States decreased by 20.2% and 27.4% respectively, while the coal production, pig iron production and shipbuilding industry in Britain decreased by 24%, 5.5% and 25.6% respectively. Germany has shrunk even more, with pig iron consumption and cotton consumption reduced by 25.4% and 27.7% respectively. What the crisis has brought to the working class is the rise of unemployment rate and the decline of real wages. From 185 1 to 1857, the real wages of American workers almost fell by 15%, and the unemployment rate of heavy industry in Britain reached 12%.
3. 1929~ 1933 capitalist world economic crisis:
Location: USA
The root cause: the basic contradiction of capitalist system still exists, that is, the contradiction between socialization of production and private ownership of means of production.
Direct cause: contradiction between production and marketing.
Specific reasons: limiting the growth of social actual consumption capacity; Installment payment and bank credit stimulated the false prosperity of the market. Capitalists blindly expand production, and the contradiction between supply and demand becomes increasingly acute. At the same time, people are addicted to speculative activities such as stocks, and the stock price is greatly boosted, which greatly increases the instability of the financial market.
Features: The force is particularly fierce, the scope is particularly wide, the continuous events are particularly long, the harm is particularly great, and the impact is particularly far-reaching.
Logo: Wall Street stock market crash in New York, USA
Impact: First, it has deepened the serious social crisis in capitalist countries. Political scandals in various countries have emerged one after another, and the government's credibility has been wiped out; The broad masses of the people strongly demand to improve their living conditions, and demonstrations and strikes continue. Fascism took advantage of people's dissatisfaction with the status quo, excited to make waves and social unrest.
Secondly, it aggravates the tension in the world situation. In order to improve their own economic situation, major capitalist countries have stepped up their intervention in economic ethics and stepped up their competition in the international market, and the contradictions and frictions between countries have become increasingly acute. In order to get rid of the predicament as soon as possible, countries further increased the plunder of colonies and semi-colonies, which aroused the resistance of local people.