Recently I was pondering the economic downturn and began to wonder how our time now would compare with the Great Depression. I decided to do some research and found some interesting information. Although, I have never been a history buff as I get older I realize we can learn from it.
As we know, the Great Depression was the result of Black Tuesday, October 29, 1929 when the stock market crashed. But what I didn't realize, is that the Dust Bowl also factored into that time. The Dust Bowl was the result of an abnormally severe drought combined with over plowing of the land. Many of the people left the Dust Bowl area and went to California seeking jobs, but California had a terrible frost which killed many of their crops. So, the Great Depression was a combination of both Wall Street and weather.
What I really wanted to know though, was, whether any businesses or industries grew during that time. I found an interesting article about Successful Companies and Industries During the Great Depression. You can read it at
http://answers.google.com/answers/threadview?id=178334. At the end of this article there are some more great links about the Great Depression.
Basically, this is what I learned. Some industries like home appliances actually grew during that time. In other industries, companies that weren't highly leveraged were able beat out their competition with increased advertising. Case in point, Chevrolet started out selling Ford because they had more money for advertising. Also, because money was so tight consumers looked for better deals and companies offering better products and better deals came out stronger and with continued customer loyalty.
Then as now, change happens. Changes bring opportunity. Opportunity to grow, learn, discard, re-think, re-organize, and even re-energize.
The question I pose is, "What can we learn from THEN and how can we apply it NOW?" I welcome your comments, insights, and inspirations!
