Talk:Economic collapse

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It sounds like the 1929 stock market crash was a result of government overregulation. It's probably just a language problem. --Paul —Preceding unsigned comment added by 128.120.100.205 (talk) 17:47, 10 June 2008 (UTC)

The phrase "before recovery measures implemented by the government begin to take effect." seems to simply assume that this is the only possible solution to economic catastrophe. Keep in mind that plenty of economists believe that it was govenment that created the conditions for the stock market crash and subsequent depressions, i.e. with the mismanagement of the newly introduced Federal Reserve fiat dollar.

What about unrestricted (unregulated) access to credit that contribued to the crash? 12.207.82.157 (talk) 18:09, 30 January 2008 (UTC)

NPOV / Cleanup

This article is rather poor, it makes sweeping generalizations without references or other support and is not nearly well researched enough. --66.66.6.153 16:48, 3 March 2007 (UTC)

The claim that the cause of economic slumps has never been expressed in the clasic literature, is not correct. In his postumanous work "The Science of Political Economy" published about 1905 by his son, Henry George explained what is the basic cause of these unstable behaviours of our macroeconomic system.

It is associated with the way that banks lend money but its basic cause is due to land-value speculation. Unlike every other kind of commodity, land does not provide the user with an alternative kind of natural resource. That means that land owners become perfect monopolists and that the price of the land will steadily rise without being held at a competitive steady level by the alternative purchase of something that is its equivalent. This goes on until the banks run out of money for helping the speculators to invest. When this happens a small shock will burst the bubble of inflated land prices, and the bank insolvencies that follow are due to the sudden drop in the land values.Macrocompassion (talk) 13:14, 17 December 2008 (UTC)

Very...very sad to quote Henry George, and imply that he is talking about the Federal Reserve Banks of today. The FED was founded in 1913, Henry George died in 1897. At that time, his unfinished and unstarted works were published with Notes, Speeches, Outlines, etc. It's great read, great ideas, but repeats itself and is very jumpy. I read it several times. I get the feeling that most people quoting Henry George, have never read it once. His land tax ideas were a tax on exclusive property rights. This "money" was to be used to trivially help the poor, and the "wealth" was in the land (exclusive property rights). He even discussed a non asset backed currency (a US Bitcoin you could say), not backed by debt, and the trivial expansion of the money supply to keep it healthy. And shudder the thought....how Adam Smith was wrong (The Wealth of Nations). <2601:14F:8100:6808:6017:5E69:77DA:2D6C (talk) 04:35, 16 September 2016 (UTC)> ____________________________
Cleaning up statements added, wherein a US Senator made comments which are now widely disputed and considered to be wrong:

c:

“On Thursday [the 18th], at about 11 o’clock in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to a tune of $550 billion being drawn out in a matter of an hour or two. The Treasury opened up its window to help. They pumped $105 billion into the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks.

They decided to close the operation, close down the money accounts, and announce a guarantee of $250,000 per account so there wouldn’t be further panic and there. And that’s what actually happened. If they had not done that their estimation was that by two o’clock that afternoon, $5.5 trillion would have been drawn out of the money market system of the United States, would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed.

Now we talked at that time about what would have happened if that happened. It would have been the end of our economic system and our political system as we know it.”

See: http://www.portfolio.com/views/blogs/market-movers/2009/02/11/kanjorski-and-the-money-market-funds-the-facts/

Also, the addition of this text does not flow with the rest of the article's style or format in a coherent manner, it appears to be a simple copy/paste of the Senator's text, in an area which does not need or warrent these comments, even if said comments are in fact correct (which they are probably not).EnochHenderson (talk) 04:32, 12 August 2011 (UTC)

Please do not remove content without discussing it here. The video of Paul Kankorski's speech is in fact on Youtube: http://www.youtube.com/watch?v=oGVeLFscMFw&feature=relatedPhmoreno (talk) 21:25, 12 August 2011 (UTC)

References

Definition

Some may think it unusual or non-encyclopedia like that there is no precise definition of economic collapse; however, there is no precise definition of a recession either.Phmoreno (talk) 16:21, 6 January 2012 (UTC)

It would be nice if the recession article could be more specific, but it does include explicit definitions from reliable sources rather than "'some people say ... something vague...". What sources are there which say what an economic collapse is, rather than just using it as a label when describing another subject? bobrayner (talk) 16:42, 6 January 2012 (UTC)

Economic collapse is a term that is rarely used in mainstream economics. The Collapse of Complex Societies by Joseph Tainter (1990) was widely read and popularized the idea of a collapse, or at least opened a dialog on the subject. Since Tainter, economic collapse has been used in book titles such as Reinventing Collapse: The Soviet Experience and American Prospects by Dmitry Orlov and Crash Proof 2: How to Profit from the Economic Collapse (2011) by Peter D. Schiff. The term was used by journalists to describe the Argentine collapse.Phmoreno (talk) 18:31, 6 January 2012 (UTC)

Here the term "economic collapse" is used, in various arrangements and without without definition, in a recent financial newsletter: John Mauldin 2102: A Year of ChoicesPhmoreno (talk) 18:18, 14 January 2012 (UTC)

There are very many sources which use the phrase "blue t-shirt", in various arrangements and without definition. That alone doesn't mean that we should have an article on Blue t-shirt which tries to cobble together the various disparate uses into one unified piece of text. bobrayner (talk) 01:50, 16 January 2012 (UTC)

Really you are arguing because a blue t-shirt might not be defined (which it actually is very defined since a t-shirt has a definition and you described it as blue) but because someone else's article might be wrong you suggest that all articles should be wrong? This article currently has little meaning. Its like calling something a superfood or organic before the FDA decided to make guidelines of what needs to happen to label a food as organic. In this case 'economic collapse' is referenced as what could happen but after reading the entire article we still don't know what the heck it means when it is stated. Does it mean our entire civilization will collapse into a more chaotic system of city-states or a feudal system instead of having a central government. Could it be argued that the economic collapse already happened and it is simply a tougher economy but by no means will it destroy the country like doomsayers think (which is something that as far back as recorded history goes people continuously predict the end of the world if that is what 'economic collapse' means. Wikipedia is really a horrible source for factual information. Poor grammar, poorly defined articles, and random rambling of factoids that progress further and further away from the actual topic. — Preceding unsigned comment added by 2601:B:A3C0:7:B448:8185:3469:C65F (talk) 04:00, 3 September 2013 (UTC)

If your point is "Why is this an article?" then all I can say is that someone put it here and it seems to get a good amount of readership. As for the definition, we have to go by the way it's used in various books and articles. Anyway, it was total trash before I started working on it, not that it's great now, but at least I read some of the reference material. I think it's important that people know that economic collapses have happened and what to expect. While this might not seem to be important to your particular situation, everyone in the world is not so fortunate.Phmoreno (talk) 02:55, 16 January 2012 (UTC)

Expecting high volume of traffic here

Based on impacts of Covid 19, “economic collapse” and related search terms are likely to be getting more common on google. I’m requesting/recommending you kind volunteers watching this article make it a priority to cleanup and make accurate, especially as the possibilities of multiple economic collapses this year are increasingly likely.

Thank you for all you do. Especially for working from home. Our work here to give people good information on the first pages they get is of critical value to the world so please know you are making a difference!

Very gratefully, DrMel (talk) 01:09, 16 March 2020 (UTC)