Stock Market Crash of 1929 is a popular event in the global history and the crash has left an unforgettable experience for the countries. The period of the beginning of the 20th century saw many developments throughout the globe and countries were fixed in a turmoil of changing from one phase to another phase. Many countries were under colonial rule and some countries were fastly developing in terms of trade, economy and commerce.
Stock Markets has been in existence from the early 13th century, where the practices of trading on debts were common. It all started with the merchants trading in Venice who used to carry papers and documents and write down all the debts and trades and sell the same if required. Moving ahead, a better way of trading was determined and merchants started trading on different voyages which also met its end as a result of the pirates and merchants had to derive different ways to reduce the losses. It was finally in the 18th century when the USA got the world’s first stock exchange, a systematic way of trading and covering the debts. It was first established in Philadelphia; however, the most effective stock exchange till date is the New York Stock Exchange which was placed in the famous Wall Street till today. On the other hand, London Stock Exchange was also formulated, however, provided low safety standards in comparison. At the same time, India was under the colonial rule and the beginning mark of the stock exchange was the collection of people below the Banyan Tree, which later on went on to become Bombay Stock Exchange. Finally, in 1994, the National Stock Exchange was established, which offered better safeguards and currently, trading has become a safe option for people and investors to trade.
During the 1920s, the world economy on one part was low as a result of the First World War and only a few countries were booming. The USA was one among them and it emerged as a superpower at the end of the war. The economic condition of the country was booming and as a result, the financial institutions took a step ahead and started offering loans and debts to enhance the luxuries of people. As a result, people took advantage and started buying cars and urbanization was on the rise. Agriculture took a step back and major developments took place. However, all this was coming to an end with circumstances which covered the situation and the case of Hatry further deteriorated the position as people’s trust began falling down. On 24th October 1929, people began withdrawing the investments and stocks, which resulted in the fall of the stock exchange. The day is still called as the ‘Black Thursday’ and this fall continued till Tuesday, also known as ‘Black Tuesday.’ Overall, the growth rate fell down drastically and a surplus withdrawal led to the stagnation of the entire economy and soon people were on a mass level unemployed as companies had to be shut.
The effects of the stock market crash were not just limited to one country but affected even other smaller and bigger nations. Countries like Great Britain, European countries like France, Germany, Italy, etc. and even Asian countries were affected as a result. This period was known as the Great Depression period and it was a dark era for all nations. Germany was worst affected as it changed the entire political conditions of the country and the ever powerful party lost its election during 1932 and Nazis came to power in 1932, making Hitler the leader. On the other hand, in Italy, the trade and commerce drastically fell, which led the government to take severe steps in regard for the same. In the USA too, the government changed and Roosevelt came to power and bought in many changes. Before the same, 1932 was a dark period leading to the fall of the economy. Britain and India stood connected as India was under the colonial rule of Britain and suffered great losses as the colonial rule became even more stricter owing to losses and farmers were the biggest losers of the same with the economy falling to a very low.
From the period starting from 1930 to 1939, till the beginning of World War I, the regaining moment was taking place. Countries and the respective governments played an important role in making the economy grow. Some of the important measures which took place were the change in power in the USA during the 1933 election. Roosevelt became the President and bought in the change of New Rule, which was a way to bring in welfare policies on the basis of the society, employment, taxing, etc. The funds of the Federal Reserve were spent for the same and this even bought in criticisms against the government. On the other hand, Great Britain made their country a welfare state and all these factors led to the development of the different economies. However, the best development came to countries when the World War II started. The USA was not a participant until Japan attacked on Pearl Harbor and in 1941, the USA participated in the war. This resulted in the end of Great Depression as employment opportunities were created and the young generation lads joined the army. Females and other aged peoples joined labor works and manufacturing units. The same was the condition of other countries and finally, though the war bought devastations, it acted as a boost to the abolishment of the Great Depression.
There is a whole lot of field where data comes very handy. With the growing amount of population, the importance of data is undeniable, especially in certain fields. The foremost important field relates to medicine and around lakhs of people are purchasing medicine every day. To keep a count is hard and this data is very useful in keeping a count of how well the residents of an area are capable of buying medicines and what are the most sold varieties. Another major field is banking. Today, governments have worked very well for the progress of its citizens and the net result is the number of account holders and maintaining their data is of importance as only then the banks can know as to what offer to give to whom. On a similar note exists the other fields like construction and infrastructure, transportation and commerce also accumulate data and there has to be a greater level of usage of data to predict what is kept for the people in future. The saving of data has resulted in huge changes and even bought changes to the economies.
The concept of Big Data is yet another important milestone in the understanding of how to learn from data. Big Data is a term which is coined and is commonly used for data which is very huge in numbers and gets piled up every day. Such data’s are common in many fields. Within Big Data, there are three major types of data namely structured data which is structured and can be saved in a format, unstructured data which is huge in numbers and is randomly available and semi-structured data which is the combination of both the two types. To analyze such data, some of the common techniques are machine learning, data mining and deep learning. Machine learning is a part of Artificial Intelligence and has been becoming more and more popular. With slight differences comes data mining through which data is extracted and saved and then used for many purposes. Deep learning, on the other hand, is a recent concept useful for the gaming industry.
In whatsoever way, the data can be extracted, saved and made use for learning, without protection, data is nothing. All the companies are currently striving hard to protect whatever data is with them and there are some common ways applied by them to save the data. The same can be encryption, putting restrictions on data to be accessed by everyone, educating the employees especially lower and higher-level employees and imparting them with knowledge how breaches can end and the importance of same and framing stricter rules to avoid breach. Even after the same, data breach has been observed true at many places and awarding protection has been the main motive of companies. There is no denial that in the future, the data is going to double up and to make them useful for learning, protecting the same in one way or other is even more pertinent.
Would you like to read more about this topic? This book might interest you: Stock Market Crash 1929.