Iraq and the Global Economic Crisis Years of 1929-1933 Study in the Reports of King Faisal I and Yassin Al-Hashemi
Ismail Noori Mseer, College of Arts, Science and Education, Ahlia University, Kingdom of Bahrain.
Abstract
After the financial Speculation, which covered the U.S.A capital market, the collapse emerged after the prices of shares reached unprecedented levels. To the extent that it stopped selling and purchasing operations. As a result the Great Depression effected the U.S. economy, especially after Black Thursday, 24 October 1929. And the consequences in the form of unemployment, which included 25% of the American’s labor.
Did not take long until Iraq had witnessed the effects of that crisis. The Iraqi government hired Ernest Dowson to investigate the problem of agrarian feudalism in 1929, and the financial and economic expert Hilton young in 1930 to study and reported the situation which could deal with the effects of the crisis.
Highlights the consistency in the follow-up by king Faisal I and Yaseen AL-Hashemi in the way of vision and attention to the causes and factors that have made the effects of the crisis features have emerged on the Iraqi reality. That what shown by the reading of the historical reports that have written by them to discuss the reason and the solutions.