Great Depression

Information in this post is taken from wikipedia, http://en.wikipedia.org/wiki/Great_depression

So for those who thought that industrial revolution is a good thing, it also brings about the great depression. Without revolution, there is no depression. The economy was brought to a all time high due to the industrial revolution, more jobs, higher birth rates and lower infant mortality rates, better standard of living, more success.

But all good things comes to an end, and the cycle repeats, the great depression had devastating effects in both the industrialized countries and those which exported raw materials. International trade declined sharply, as did personal incomes, tax revenues, prices, and profits. Cities all around the world were hit hard, especially those dependent on heavy industry.

So to answer the question in the earlier post, Is being later than others a bad thing?

It is not bad, as long as u have taken the first step. Look at the ecconomy of China now, it is booming, as compared to the slowing economy of USA and its falling currency exchange rates. China started their revolution much later, and while the others are hit by depression, China is riding on its crest of revolution and turing crisis of others into opportunity of her own. Behold what success China will have in future if it manage to handle the effects of revolution well.


P.S:
So who is better off, a man in rags eating his bowl of rice with his family in his hut made of straw, or a man in his fancy suit sitting alone in a posh restaurant eating shark's fin? Who do you think will be happier?