The Economic Crises and Their Effects on the Trajectories of Development

Abstract

Countries and governments seek to realise high levels of development. However, they oftentimes encounter quasi-cyclic impediments such as all kinds of crises, and in particular, the economic and financial crises. Thus, the aim of this study is to know the effects resulting from these crises which strike the trajectories of development and its historical phases. Indeed, the crisis of the Great Depression in 1929 and the Financial Crisis in 2008 had a great impact on the trajectories of development with its different kinds: economical and social. Hence, the study reached several conclusions; most important ones are: - Imbalances and lack of equilibriums which happen from time to time reveal the frailty of the economic propositions (theses) for development and its security. - The emergence of new development propositions (theses) which are based on foundations and principles of justice and creative businesses in their exhaustive sense. - To decrease crises needs concerting and continuous efforts, starting from scheduling the meetings and adopting educational and cultural approaches in the framework of safe human development.