The Depression was a financial fall-out that affected the population globally. In Australia the Depression began in 1929 and ended in 1937. High levels of unemployment, poverty, evictions and homelessness spread across Australia. Two main strategies suggested to solve the problems of the Depression was a deflationary policy, such as the one devised by Sir Otto Niemeyer and an inflationary policy, as suggested by Edward Granville Theodore and John Thomas Lang. The Government finally decided to implement …
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showed last 75 words of 1123 total
…the global economy. In conclusion, it can be seen that the Depression was a devastating financial downturn that had a negative affect on Australia's economy. Australia suffered from problems such as severe unemployment, poverty, homelessness, extensive overseas debt, falls in international trade and prices and drops in consumer demand. Though a deflationary policy was adopted over an inflationary policy, the government was incapable of bringing an end to the Depression and the suffering it caused.