"Great Depressions" and your nation

[Umbra Ac Silentium]

It's every economically strong nation's fear, that one day it might all come crashing down. Stocks plummet, businesses close, and people are out of work. Now, in the event that a massive economic downturn occurred in your nation, with little end in sight, how would the government react? Would it take a hands off approach to let the economy control itself? Would it try to spend to combat it? What would it do?
Finally, has a "Great Depression" of any sort ever occurred within your nation? How long did it last? How many were laid off? (Other details welcome...)

[Saurisisia]

Not really. We've simply had ups and downs, no recessions or depressions so far.

[Umbra Ac Silentium]

Not really. We've simply had ups and downs, no recessions or depressions so far.

(OOC: That wasn't the only question asked...:'] How would the government deal with one, in the event it did happen?)

[Saurisisia]

Not really. We've simply had ups and downs, no recessions or depressions so far.

(OOC: That wasn't the only question asked...:'] How would the government deal with one, in the event it did happen?)

Oh. The government wouldn't do anything besides wait out the storm and hope for it to go away.

[The 4th Realm]

(Hopes saur has a depression, will contact Whairtia when happened)


That is impossible, people die every day, so there is nothing to worry about.

[Soviet Haaregrad]

Well, 2004-2009, and 2011 we faced significant economic slowdowns, our cash/liquid capital crisis appears to be gradually lifting though.

[The Order of Magdalene]

The Great Depression from 1860 to 1869 is considered to be the worst economic depression in our history.

[H-Alba]

Our nation is currently in a major recession. The average citizen only makes £90,000 a year, which is about US$550

[Greater-Prussia]

The Great Depression of the 1930s effected the entire world regardless of nation. Prussia was not excluded; what was already bad from the outcome of the Great World War, simply became worse as Amerika's banks failed and economies the world over collapsed.

Currently we are recovering from the effects of the ending Great Recession.

[Vecherd]

Between 1909 and 1938 Vecherd had a 90% decline in GDP and a massive unemployment crisis with the extremely high rate of 46.8% in 1930.
After that Vecherd have never had a left-wing government again.

[Siorafrica]

Siorafrica's economy is not a capitalist one so there's never any economic downturn from anything other than nature related stuff and so there's never a downturn big enough for a Great Depression.

[Malgrave]

The United Kingdom suffered a period know as 'The Stagnation'. After the re-foundation of the country the economy struggled to perform as infrastructure had to be purchased again, since then with had minor declines but no massive crashes. Companies have failed however they don't receive any support from the government. It's capitalism.

[Malgrave]

Siorafrica's economy is not a capitalist one so there's never any economic downturn from anything other than nature related stuff and so there's never a downturn big enough for a Great Depression.

Every economy has suffered from stagnated growth or a decline. What's 'nature' related stuff anyway?

[Dagnia]

We have had times when our economy was really depressed because an enemy nation devastated ours in war, but we recover from these quickly. But most of the time, we might have a slight downturn, barely even classifiable as a recession. Our government stays out of things, so a slight market correction never turns into a national emergency because the government screwed things up.

[Dagnia]

Siorafrica's economy is not a capitalist one so there's never any economic downturn from anything other than nature related stuff and so there's never a downturn big enough for a Great Depression.

Every economy has suffered from stagnated growth or a decline. What's 'nature' related stuff anyway?

He never said anything about stagnation. Non-capitalist economies don't have the prosperity-recession cycle because they eliminate the prosperity part and keep everyone in equal levels of poverty. Unless of course, they are politically connected.

[Fjeld]

Fjeld has had very mild fluctuations in its economic growth since it was established, and no catastrophic breakdowns. In the event that a breakdown did happen the government would start using its cash reserves to replace all outdated infrastructure, both taking advantage of the situation and stimulating the economy. It might also establish enterprises in promising new fields and promptly give them over to the workers after they could sustain themselves, a bit like Japan.

[The Supreme Truth]

The Government of the Supreme Truth was virtually broke when the nation was first established in 1985.

[Whiskey Hill]

The Great Depression of the 1930s effected the entire world regardless of nation. Prussia was not excluded; what was already bad from the outcome of the Great World War, simply became worse as Amerika's banks failed and economies the world over collapsed.

Currently we are recovering from the effects of the ending Great Recession.

These are true of us as well. The government takes an active role in the economy and responds vigorously when there is a downturn.

[The 4th Realm]

The Government of the Supreme Truth was virtually broke when the nation was first established in 1985.

I hate your leader

[Georgism]

There aren't/never have been any.

[Vecherd]

There aren't/never have been any.

You would think that a nation with one inhabitant would have a lot of depressions, You know at the end of the month before paychecks and so on.

[Georgism]

There aren't/never have been any.

You would think that a nation with one inhabitant would have a lot of depressions, You know at the end of the month before paychecks and so on.

Well I tend to be very careful with my money, although if I have to go over my allowance for any reason I have a fair bit in the bank

[Dungeyland]

Dungeyland has had one depression it's Imperial era. Between 1897 and 1900, the Empire's economy almost collapsed. Unemployment went from under 5% to over 15%. The Dangish Empire went from consecutive growth of more than two percent a quarter to decline of 1% (per quarter). The explanation lies in the purchase of the Geld Canal, linking up imperial provinces, which was very expensive, and a region already in decline economically. Furthermore, Dungeyland was briefly experimenting with socialism (resembling 1970s Labour), and the economy started to decline, despite Dungeyland's standing in the world.

[Parhe]

It was during a depression that Parhe was formed, with the peaceful merging of three very similar(culturally, economically and demographically, but not politically) countries experiencing a depression.

[Thighearnain]

There have been several depressions in the history of Thighearnain (for reference, the current year in the Kingdom is 1974).

After the loss of the Callipygian Islands Colonies (a large source of income for Thighearnain due to its practice of mercantilism) in 1805, the Kingdom entered a depression lasting from 1805 to 1818, one of the longest and most severe in the nation's history. There were several attempted revolts and mass riots between 1808 and 1813.

After the Third Tiger Islands war (1923-1935), an incredibly devastating conflict that turned public opinion dead against the government, the Empire of Thighearnain entered the worst depression in its history, which caused the collapse of the Empire into the corrupt Kingdom of Thighearnain (1949-1970). Because of this depression, the Empire had to sell or free all of its colonies except one, and major governmental changes for the worse occurred.

In response to severe economic crises, the government diverts funding away from the military and creates public works projects to give jobs to citizens.