Venezuela Economy In Comparison To Great Depression

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Venezuela Economy in Comparison to Great Depression The American Economy has undergone a lot of controversial issues in the past couple years that has affected other economies in the world as well. When an economic crisis occurs in any given country, it is a common assumption that the country is at that stage due to financial problems. When we think about economic stages, most individuals relate it to the Great Depression. The Great Depression was the biggest economic downfall in history for America due to problems with politics, wages, and the nations capital being an issue during that era. However, can other countries have an economic crisis that could affect a country like America or is there a country out there that shows a Great Depression of their own? The answer to that question is yes. I believe there is a country that is in major crisis today that can be related to the Great Depression era and that country is Venezuela. Because Venezuela might be the worst economy in the world according to an article on CNN Money called Five Reasons why…show more content…
In this article, it shows similar signs of what caused the Great Depression in 1929 and how the American economy plummeted downwards as financial crisis occurred. With political instability, food crisis, OPEC issues, and decreasing monetary value, any country can be at a bad economic stage. Even today many parts of the world have their own economic problems that can be related to the Great Depression in some shape or form. This article help shows what common similarities Venezuela faces which leads to an economic downfall comparable to the Great Depression and what people dealt with during those times. All in all, this article points out how Venezuela is facing the worst economy in the world as parts of their economic sector has taken a hit causing instability in their

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