Tuesday, October 21, 2008

Interesting Read - Similarities of current economic crisis to the crisis of 1870s

I found this article an interesting read (The Real Great Depression).

Though many claim that the current economic crisis is the biggest one after The Great Depression of 1929, most of us mistake the current economic scenario to be same as The Great Depression (that includes me - or maybe just me :)).

Then I came across this article which explains this misunderstanding and also gives some interesting insight on an other great crisis of the 1870s which in many ways, as the article proves, is similar to the existing one.

I found this article interesting. What is also interesting is the point that author makes about the shift in economic power from Europe to America (eventually leading it to its current state) and also hints that the same might happen again and that the power may shift to countries like India and China ;).

Isn't everything coming together.. what say.. Abdul Kalam and other great minds in the recent past claimed that India would become a superpower in the next 20-30 years. That would be great.. isn't it ;)...

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