5. The U.S. stock market crash (1929)
In its immediate context,
the crash led to the great world depression
that fostered the economic conditions for World War II (1939-1945).
But the long-range ramifications of the crash included the worldwide
legislation that tempered capitalism with social welfare. The socially
conscious literature, art, and philosophy of the 1930's had at
its base the crash of 1929 and the Great Depression that followed.
More information:
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Michael Seidel
is a Professor in the
Department of English and Comparative Literature at Columbia University. His Top
10 list reflects a broad historical approach. He also discusses the impact of
the great events on writers, artists, and humanity in general.
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