20th Century Economic History

The 20th century saw dramatic economic changes, shaped by wars, technological advancements, and policy shifts. It experienced rapid industrial growth, the Great Depression of the 1930s causing global recession, and post-World War II recovery fueled by innovation and globalization. Meanwhile, the Cold War era featured economic competition between capitalism and communism. The late century introduced digital technology, leading to a knowledge-based economy. Global trade expanded, lifting many out of poverty, but also leading to inequality and financial crises. Overall, the century was marked by unprecedented economic growth, challenges, and transformations that continue to influence today's global economy.