Economic Conflict

Definition

Economic conflict refers to a disagreement or clash between different groups or sectors within an economy, often resulting in negative consequences such as economic downturns or recessions. It can involve issues related to the distribution of wealth, resources, or power.

Related terms

Great Depression: A severe worldwide economic downturn that lasted from 1929 to the late 1930s and resulted in high unemployment rates, poverty, and widespread economic hardship.

Stock Market Crash: Refers to the sudden and dramatic decline in stock prices on Wall Street in October 1929, which marked the beginning of the Great Depression.

Bank Failures: The collapse of numerous banks during the Great Depression due to financial instability and inability to meet depositors' demands for withdrawals.