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href="#Effects_of_war_and_hyperinflation_on_wealth_and_commerce"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Effects of war and hyperinflation on wealth and commerce</span> </div> </a> <ul id="toc-Effects_of_war_and_hyperinflation_on_wealth_and_commerce-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Bank_holidays,_conversion_or_confiscation_of_accounts_and_new_currency" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Bank_holidays,_conversion_or_confiscation_of_accounts_and_new_currency"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Bank holidays, conversion or confiscation of accounts and new currency</span> </div> </a> <ul id="toc-Bank_holidays,_conversion_or_confiscation_of_accounts_and_new_currency-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Historical_examples" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Historical_examples"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Historical examples</span> </div> </a> <button aria-controls="toc-Historical_examples-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Historical examples subsection</span> </button> <ul id="toc-Historical_examples-sublist" class="vector-toc-list"> <li id="toc-China_1852–70" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#China_1852–70"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.1</span> <span>China 1852–70</span> </div> </a> <ul id="toc-China_1852–70-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Weimar_Germany_in_the_1920s" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Weimar_Germany_in_the_1920s"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.2</span> <span>Weimar Germany in the 1920s</span> </div> </a> <ul id="toc-Weimar_Germany_in_the_1920s-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-The_Great_Depression_of_the_1930s" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#The_Great_Depression_of_the_1930s"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.3</span> <span>The Great Depression of the 1930s</span> </div> </a> <ul id="toc-The_Great_Depression_of_the_1930s-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-The_Eastern_Bloc_in_the_1980s_and_90s" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#The_Eastern_Bloc_in_the_1980s_and_90s"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.4</span> <span>The Eastern Bloc in the 1980s and 90s</span> </div> </a> <ul id="toc-The_Eastern_Bloc_in_the_1980s_and_90s-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Russian_financial_crisis_of_1998" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Russian_financial_crisis_of_1998"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.5</span> <span>Russian financial crisis of 1998</span> </div> </a> <ul id="toc-Russian_financial_crisis_of_1998-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1998–2002_Argentine_great_depression" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1998–2002_Argentine_great_depression"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.6</span> <span>1998–2002 Argentine great depression</span> </div> </a> <ul id="toc-1998–2002_Argentine_great_depression-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Zimbabwe_economic_crisis_(2000-present)" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Zimbabwe_economic_crisis_(2000-present)"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.7</span> <span>Zimbabwe economic crisis (2000-present)</span> </div> </a> <ul id="toc-Zimbabwe_economic_crisis_(2000-present)-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Venezuela_economic_crisis_(2013–present)" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Venezuela_economic_crisis_(2013–present)"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.8</span> <span>Venezuela economic crisis (2013–present)</span> </div> </a> <ul id="toc-Venezuela_economic_crisis_(2013–present)-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Other_economic_trends" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Other_economic_trends"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.9</span> <span>Other economic trends</span> </div> </a> <ul id="toc-Other_economic_trends-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Doom_loop" 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class="vector-toc-link" href="#Austrian_school"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.1</span> <span>Austrian school</span> </div> </a> <ul id="toc-Austrian_school-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Georgescu-Roegen's_theory_of_Earth's_ever_decreasing_carrying_capacity" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Georgescu-Roegen's_theory_of_Earth's_ever_decreasing_carrying_capacity"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.2</span> <span>Georgescu-Roegen's theory of Earth's ever decreasing carrying capacity</span> </div> </a> <ul id="toc-Georgescu-Roegen's_theory_of_Earth's_ever_decreasing_carrying_capacity-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div 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class="mw-page-title-main">Economic collapse</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. 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href="https://ar.wikipedia.org/wiki/%D8%A7%D9%86%D9%87%D9%8A%D8%A7%D8%B1_%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A" title="انهيار اقتصادي – Arabic" lang="ar" hreflang="ar" data-title="انهيار اقتصادي" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Strukturkrise" title="Strukturkrise – German" lang="de" hreflang="de" data-title="Strukturkrise" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D9%81%D8%B1%D9%88%D9%BE%D8%A7%D8%B4%DB%8C_%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%DB%8C" title="فروپاشی اقتصادی – Persian" lang="fa" hreflang="fa" data-title="فروپاشی اقتصادی" data-language-autonym="فارسی" data-language-local-name="Persian" 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class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Severe and prolonged economic problems</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">For other uses, see <a href="/wiki/Collapse_(disambiguation)" class="mw-redirect mw-disambig" title="Collapse (disambiguation)">Collapse</a>.</div> <p> <b>Economic collapse</b>, also called <b>economic meltdown</b>, is any of a broad range of poor economic conditions, ranging from a severe, prolonged <a href="/wiki/Depression_(economics)" class="mw-redirect" title="Depression (economics)">depression</a> with high <a href="/wiki/Bankruptcy" title="Bankruptcy">bankruptcy</a> rates and high <a href="/wiki/Unemployment" title="Unemployment">unemployment</a> (such as the <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> of the 1930s), to a breakdown in normal <a href="/wiki/Commerce" title="Commerce">commerce</a> caused by <a href="/wiki/Hyperinflation" title="Hyperinflation">hyperinflation</a> (such as in <a href="/wiki/Weimar_Germany" class="mw-redirect" title="Weimar Germany">Weimar Germany</a> in the 1920s), or even an economically caused sharp rise in the death rate and perhaps even a decline in population (such as in countries of the <a href="/wiki/Former_USSR" class="mw-redirect" title="Former USSR">former USSR</a> in the 1990s).<sup id="cite_ref-Orlov2008_1-0" class="reference"><a href="#cite_note-Orlov2008-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Often economic collapse is accompanied by social chaos, <a href="/wiki/Civil_unrest" class="mw-redirect" title="Civil unrest">civil unrest</a> and a breakdown of law and order. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Cases">Cases</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=1" title="Edit section: Cases"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>There are few well documented cases of economic collapse. One of the best documented cases of collapse or near collapse is the <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a>, the causes of which are still being debated. </p> <blockquote><p>"To understand the Great Depression is the Holy Grail of macroeconomics."<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> —<a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> (1995)</p></blockquote> <p>Bernanke's comment addresses the difficulty of identifying specific causes when many factors may each have contributed to various extents. </p><p>Past economic collapses have had political as well as financial causes. Persistent trade deficits, wars, revolutions, famines, depletion of important resources, and government-induced <a href="/wiki/Hyperinflation" title="Hyperinflation">hyperinflation</a> have been listed<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Words_to_watch#Unsupported_attributions" title="Wikipedia:Manual of Style/Words to watch"><span title="The material near this tag may use weasel words or too-vague attribution. (October 2015)">by whom?</span></a></i>]</sup> as causes. </p><p>In some cases blockades and embargoes caused severe hardships that could be considered economic collapse. In the U.S. the <a href="/wiki/Embargo_Act_of_1807" title="Embargo Act of 1807">Embargo Act of 1807</a> forbade foreign trade with warring European nations, causing a severe depression in the heavily international trade-dependent economy, especially in the shipping industry and port cities, ending a great boom.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> The Union blockade of the <a href="/wiki/Confederate_States_of_America" title="Confederate States of America">Confederate States of America</a> severely damaged the South's plantation owners; however, the South had little economic development. The blockade of Germany during World War I led to starvation of hundreds of thousands of Germans but did not cause economic collapse, at least until the political turmoil and the hyperinflation that followed. For both the Confederacy and Weimar Germany, the cost of the war was worse than the blockade. Many Southern plantation owners had their bank accounts confiscated and also all had to free their slaves without compensation. The Germans had to make <a href="/wiki/War_reparations" title="War reparations">war reparations</a>. </p><p>Following defeat in war, the conquering country or faction may not accept paper currency of the vanquished, and the paper becomes worthless. (This was the situation of the Confederacy.) Government debt obligations, primarily bonds, are often restructured and sometimes become worthless. Therefore, there is a tendency for the public to hold gold and silver during times of war or crisis. </p> <div class="mw-heading mw-heading2"><h2 id="Effects_of_war_and_hyperinflation_on_wealth_and_commerce">Effects of war and hyperinflation on wealth and commerce</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=2" title="Edit section: Effects of war and hyperinflation on wealth and commerce"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Hyperinflation" title="Hyperinflation">Hyperinflation</a></div> <p>Hyperinflation, wars, and revolutions cause hoarding of essentials and a disruption of markets. In some past hyperinflations, workers were paid daily and immediately spent their earnings on essential goods, which they often used for barter. Store shelves were frequently empty. A vivid example of it was seen in <a href="/wiki/Armenia" title="Armenia">Armenia</a>. During the collapse of the Soviet Union, Armenia experienced three major shocks during this early phase of transformation, resulting in hyperinflation and loss of huge part of commerce.<sup id="cite_ref-:0_6-0" class="reference"><a href="#cite_note-:0-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> First, the old central planning regime collapsed, and many big Armenian companies that had been developed to serve the Soviet Union lost their markets almost overnight.<sup id="cite_ref-:0_6-1" class="reference"><a href="#cite_note-:0-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Second, as an energy importer, Armenia's terms of exchange deteriorated sharply as the price of imported energy soared dramatically compared to the prices of its exports.<sup id="cite_ref-:0_6-2" class="reference"><a href="#cite_note-:0-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Third, the war in Nagorno-Karabakh was a huge burden on the economy, and it was followed by blockades and other economic disturbances, some of which continue to this day. As a result, by 1993, Armenia's GDP had fallen to just 47 percent of its 1990 level.<sup id="cite_ref-:0_6-3" class="reference"><a href="#cite_note-:0-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> However, by the middle of the 1990s, hyperinflation in Armenia had been tamed thanks to the tight collaboration of the government and the <a href="/wiki/Central_Bank_of_Armenia" title="Central Bank of Armenia">Central Bank of Armenia</a> (CBA) in implementing strong monetary and fiscal policies. The average consumer price inflation was reduced from over 5,000% (1994) to 175% (1995). Armenia was, indeed, one of the region's true success stories.<sup id="cite_ref-:0_6-4" class="reference"><a href="#cite_note-:0-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>More stable foreign currencies, silver and gold (usually coins) were held and exchanged in place of local currency.<sup id="cite_ref-Ferguson1975_7-0" class="reference"><a href="#cite_note-Ferguson1975-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The minting country of precious metal coins tended to be relatively unimportant. Jewelry was also used as a medium of exchange. Alcoholic beverages were also used for barter.<sup id="cite_ref-Orlov2008_1-1" class="reference"><a href="#cite_note-Orlov2008-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>Desperate individuals sold valuable possessions to buy essentials or traded them for gold and silver.<sup id="cite_ref-Ferguson1975_7-1" class="reference"><a href="#cite_note-Ferguson1975-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>In the German hyperinflation, stocks held much more of their value than paper currency.<sup id="cite_ref-Ferguson1975_7-2" class="reference"><a href="#cite_note-Ferguson1975-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> Bonds denominated in the inflating currency may lose most or all value. </p> <div class="mw-heading mw-heading2"><h2 id="Bank_holidays,_conversion_or_confiscation_of_accounts_and_new_currency"><span id="Bank_holidays.2C_conversion_or_confiscation_of_accounts_and_new_currency"></span>Bank holidays, conversion or confiscation of accounts and new currency</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=3" title="Edit section: Bank holidays, conversion or confiscation of accounts and new currency"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Financial_repression" title="Financial repression">Financial repression</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Billionmarks.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/6/60/Billionmarks.jpg/220px-Billionmarks.jpg" decoding="async" width="220" height="143" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/60/Billionmarks.jpg/330px-Billionmarks.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/60/Billionmarks.jpg/440px-Billionmarks.jpg 2x" data-file-width="866" data-file-height="562" /></a><figcaption>A German 1000 mark banknote, over-stamped in red with "Eine Milliarde Mark" long scale (1,000,000,000 mark) during the hyperinflation of 1923</figcaption></figure> <p>During severe financial crises, sometimes governments close banks. Depositors may be unable to withdraw their money for long periods, as was true in the United States in 1933 under the <a href="/wiki/Emergency_Banking_Act" class="mw-redirect" title="Emergency Banking Act">Emergency Banking Act</a>. Withdrawals may be limited. Bank deposits may be involuntarily converted to government bonds or to a new currency of lesser value in foreign exchange.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>During financial crises and even less severe situations, <a href="/wiki/Capital_control" title="Capital control">capital controls</a> are often imposed to restrict or prohibit transferring or personally taking money, securities or other valuables out of a country. To end hyperinflations a new currency is typically issued. The old currency is often not worth exchanging for new. </p> <div class="mw-heading mw-heading2"><h2 id="Historical_examples">Historical examples</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=4" title="Edit section: Historical examples"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="China_1852–70"><span id="China_1852.E2.80.9370"></span>China 1852–70</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=5" title="Edit section: China 1852–70"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Taiping_Rebellion" title="Taiping Rebellion">Taiping Rebellion</a> followed by internal warfare, famines and epidemics caused the deaths of over 100 million and greatly damaged the economy.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Weimar_Germany_in_the_1920s">Weimar Germany in the 1920s</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=6" title="Edit section: Weimar Germany in the 1920s"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Hyperinflation_in_the_Weimar_Republic" title="Hyperinflation in the Weimar Republic">Hyperinflation in the Weimar Republic</a></div> <p>Following Germany's defeat in <a href="/wiki/World_War_I" title="World War I">World War I</a>, political instability resulted in murders and assassinations of hundreds of political figures. (See: <a href="/wiki/German_Revolution_of_1918%E2%80%931919" class="mw-redirect" title="German Revolution of 1918–1919">German Revolution of 1918–1919</a> and <a href="/wiki/Kapp_Putsch" title="Kapp Putsch">Kapp Putsch</a>) </p><p>Germany's finances were heavily strained by the war and reparations in accordance with the <a href="/wiki/Treaty_of_Versailles" title="Treaty of Versailles">Treaty of Versailles</a>, leaving the government unable to raise enough taxation to operate and make <a href="/wiki/War_reparations" title="War reparations">war reparations</a>. The government resorted to printing money to cover the shortfall, which resulted in major hyperinflation; one book on these events, which includes quotes and a few first hand accounts, is <i>When Money Dies</i>.<sup id="cite_ref-Ferguson1975_7-3" class="reference"><a href="#cite_note-Ferguson1975-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The hyperinflation ended in December 1923, with government debt being cleared at the cost of ordinary citizens' savings. </p><p>Some believe that the hyperinflation of 1923 helped fuel the eventual rise of the Nazi party, and the rise of Hitler to power in 1933.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Economists, however, tend to attribute Hitler's rise to the <a href="/wiki/Deflation" title="Deflation">Deflation</a> and the <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> beginning in 1929.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a> concluded that the 1923 hyperinflation didn’t bring Hitler to power, but the <a href="/wiki/Weimar_Republic#Br.C3.BCning.27s_policy_of_deflation_.281930.E2.80.931932.29" title="Weimar Republic">Brüning deflation and depression</a>.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> Before 1929, the Nazi party had been actually in decline, receiving less than 3% of votes in the German federal election in 1928 (see <a href="/wiki/Nazi_Party_election_results#Tables_of_national_election_results" title="Nazi Party election results">election results of the Nazi Party</a>). </p> <div class="mw-heading mw-heading3"><h3 id="The_Great_Depression_of_the_1930s">The Great Depression of the 1930s</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=7" title="Edit section: The Great Depression of the 1930s"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a></div> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Poor_mother_and_children,_Oklahoma,_1936_by_Dorothea_Lange.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/6/61/Poor_mother_and_children%2C_Oklahoma%2C_1936_by_Dorothea_Lange.jpg/210px-Poor_mother_and_children%2C_Oklahoma%2C_1936_by_Dorothea_Lange.jpg" decoding="async" width="210" height="210" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/61/Poor_mother_and_children%2C_Oklahoma%2C_1936_by_Dorothea_Lange.jpg/315px-Poor_mother_and_children%2C_Oklahoma%2C_1936_by_Dorothea_Lange.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/61/Poor_mother_and_children%2C_Oklahoma%2C_1936_by_Dorothea_Lange.jpg/420px-Poor_mother_and_children%2C_Oklahoma%2C_1936_by_Dorothea_Lange.jpg 2x" data-file-width="2926" data-file-height="2926" /></a><figcaption>An impoverished American family living in a <a href="/wiki/Shack" title="Shack">shanty</a>, 1936</figcaption></figure> <p>While arguably not a true economic collapse, the decade of the 1930s witnessed the most severe worldwide economic contraction since the start of the <a href="/wiki/Industrial_Revolution" title="Industrial Revolution">Industrial Revolution</a>. In the US, the Depression began in the summer of 1929, soon followed by the <a href="/wiki/Wall_Street_Crash_of_1929" class="mw-redirect" title="Wall Street Crash of 1929">stock market crash of October 1929</a>. American stock prices continued to decline in fits and starts until they hit bottom in July 1932. In the first quarter of 1933, the <a href="/wiki/Emergency_Banking_Act" class="mw-redirect" title="Emergency Banking Act">banking system broke down</a>: asset prices had collapsed, bank lending had largely ceased, a quarter of the American work force was unemployed, and real <a href="/wiki/GDP" class="mw-redirect" title="GDP">GDP</a> per capita in 1933 was 29% below its 1929 value.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> The ensuing rapid recovery was interrupted by a major recession in 1937–38. The U.S. fully recovered by 1941, the eve of its entry in <a href="/wiki/World_War_II" title="World War II">World War II</a>, which gave rise to a boom as dramatic as the Depression that preceded it. </p><p>While there were numerous bank failures during the Great Depression, most banks in developed countries survived, as did most currencies and governments. The most significant monetary change during the depression was the demise of the <a href="/wiki/Gold_standard" title="Gold standard">gold standard</a> by most nations that were on it. In the U.S., the dollar was redeemable in gold until 1933 when U.S. citizens were forced to turn over their gold (except for 5 ounces) for fiat currency (See: <a href="/wiki/Executive_Order_6102" title="Executive Order 6102">Executive Order 6102</a>) and were forbidden to own monetary gold for the next four decades. Subsequently, gold was revalued from $20.67 per ounce to $35 per ounce. U.S. dollars remained redeemable in gold by foreigners until 1971. Gold ownership was legalized in the U.S. in 1974, but not with legal tender status. </p><p>As bad as the Great Depression was, it took place during a period of high productivity growth, which caused real wages to rise. The high unemployment was partly a result of the productivity gains, allowing the number of hours of the standard work week to be cut while restoring economic output to previous levels after a few years. Workers who remained employed saw their real hourly earnings rise because wages remained constant while prices fell; however, overall earnings remained relatively constant because of the reduced work week.<sup id="cite_ref-Bell-1940_15-0" class="reference"><a href="#cite_note-Bell-1940-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Converting the dollar to a fiat currency and devaluing against gold ensured the end of deflation and created inflation, which made the high debt accumulated during the 1920s boom easier to repay, although some of the debt was written off. </p> <div class="mw-heading mw-heading3"><h3 id="The_Eastern_Bloc_in_the_1980s_and_90s">The Eastern Bloc in the 1980s and 90s</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=8" title="Edit section: The Eastern Bloc in the 1980s and 90s"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>During the 1980s, the <a href="/wiki/Eastern_Bloc" title="Eastern Bloc">Eastern Bloc</a>, which relied on a highly centralized form of <a href="/wiki/Planned_economy" title="Planned economy">planned economy</a>, experienced a decade-long period of <a href="/wiki/Economic_stagnation" title="Economic stagnation">stagnation</a> from which it did not recover. The end of the decade saw revolutions and the fall of communist regimes throughout <a href="/wiki/Central_Europe" title="Central Europe">Central</a> and <a href="/wiki/Eastern_Europe" title="Eastern Europe">Eastern Europe</a>, and eventually in the <a href="/wiki/Soviet_Union" title="Soviet Union">Soviet Union</a> (USSR) by 1991. The process was accompanied by a gradual but important easing of restrictions on economic and political behaviour in the late 1980s, including the satellite states, culminating with economic collapse and <a href="/wiki/Shock_therapy_(economics)" title="Shock therapy (economics)">shock therapy</a> in the 1990s. Even before <a href="/wiki/Russia" title="Russia">Russia</a>'s financial crisis of 1998, Russia's GDP was half of what it had been in the early 1990s.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p><p>The collapse in the USSR was characterized by an increase in the death rate, especially by men over 50, with alcoholism a major cause. There was also an increase in violent crime and murder.<sup id="cite_ref-Orlov2008_1-2" class="reference"><a href="#cite_note-Orlov2008-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> The Russian population peaked in the 1990s and is lower today than two decades ago, as the <a href="/wiki/Demographics_of_Russia" title="Demographics of Russia">demographics of Russia</a> show. </p><p>A firsthand account of conditions during the economic collapse was told by <a href="/wiki/Dmitry_Orlov_(writer)" title="Dmitry Orlov (writer)">Dmitry Orlov</a>, a former USSR citizen who became a US citizen but returned to Russia for a time during the crisis.<sup id="cite_ref-Orlov2008_1-3" class="reference"><a href="#cite_note-Orlov2008-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Russian_financial_crisis_of_1998">Russian financial crisis of 1998</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=9" title="Edit section: Russian financial crisis of 1998"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/1998_Russian_financial_crisis" title="1998 Russian financial crisis">1998 Russian financial crisis</a></div> <p>After more or less stabilizing after the disintegration of the USSR, a severe financial crisis took place in the <a href="/wiki/Russian_Federation" class="mw-redirect" title="Russian Federation">Russian Federation</a> in August 1998. It was caused by low oil prices and government expenditure cuts after the end of the <a href="/wiki/Cold_War" title="Cold War">Cold War</a>. Other nations of the former Soviet Union also experienced economic collapse, although a number of crises also involved armed conflicts, like in the break-away region <a href="/wiki/Chechnya" title="Chechnya">Chechnya</a>. The default by Russia on its government bonds in 1998 led to the collapse of highly leveraged <a href="/wiki/Hedge_fund" title="Hedge fund">hedge fund</a> <a href="/wiki/Long_Term_Capital_Management" class="mw-redirect" title="Long Term Capital Management">Long Term Capital Management</a>, which threatened the world financial system. The U.S. Federal Reserve organized a bailout of LTCM which turned it over to a banking consortium. </p> <div class="mw-heading mw-heading3"><h3 id="1998–2002_Argentine_great_depression"><span id="1998.E2.80.932002_Argentine_great_depression"></span>1998–2002 Argentine great depression</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=10" title="Edit section: 1998–2002 Argentine great depression"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a></div> <p><sup id="cite_ref-Argentina-Default-IMF-Depression_17-0" class="reference"><a href="#cite_note-Argentina-Default-IMF-Depression-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-JEC-USCongress_18-0" class="reference"><a href="#cite_note-JEC-USCongress-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Economist_19-0" class="reference"><a href="#cite_note-Economist-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> </p><p>The depression, which began after the <a href="/wiki/1998_Russian_financial_crisis" title="1998 Russian financial crisis">Russian</a> and <a href="/wiki/Samba_effect" title="Samba effect">Brazilian financial crises</a>,<sup id="cite_ref-Argentina-Default-IMF-Depression_17-1" class="reference"><a href="#cite_note-Argentina-Default-IMF-Depression-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> caused widespread <a href="/wiki/Unemployment" title="Unemployment">unemployment</a>, <a href="/wiki/Riots" class="mw-redirect" title="Riots">riots</a>, the fall of the government, a <a href="/wiki/Default_(finance)" title="Default (finance)">default</a> on the country's <a href="/wiki/Foreign_debt" class="mw-redirect" title="Foreign debt">foreign debt</a>, the rise of alternative currencies and the end of the <a href="/wiki/Argentine_peso" title="Argentine peso">peso's</a> fixed exchange rate to the <a href="/wiki/United_States_dollar" title="United States dollar">US dollar</a>.<sup id="cite_ref-Argentina-Default-IMF-Depression_17-2" class="reference"><a href="#cite_note-Argentina-Default-IMF-Depression-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> The economy shrank by 28 percent from 1998 to 2002.<sup id="cite_ref-JEC-USCongress_18-1" class="reference"><a href="#cite_note-JEC-USCongress-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Telegraph_20-0" class="reference"><a href="#cite_note-Telegraph-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> In terms of income, over 50 percent of Argentines were poor and 25 percent, indigent; seven out of ten Argentine children were poor at the depth of the crisis in 2002.<sup id="cite_ref-Argentina-Default-IMF-Depression_17-3" class="reference"><a href="#cite_note-Argentina-Default-IMF-Depression-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Telegraph_20-1" class="reference"><a href="#cite_note-Telegraph-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>By the end of November 2001, people began withdrawing large sums of dollars from their bank accounts, turning pesos into dollars, and sending them abroad, which caused a bank run. </p><p>The freeze enraged many Argentines who took to the streets of important cities, especially Buenos Aires. They engaged in protests.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p><p>The president <a href="/wiki/Fernando_De_la_R%C3%BAa" class="mw-redirect" title="Fernando De la Rúa">De la Rúa</a> eventually fled the <a href="/wiki/Casa_Rosada" title="Casa Rosada">Casa Rosada</a> in a helicopter on 21 December 2001.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Zimbabwe_economic_crisis_(2000-present)"><span id="Zimbabwe_economic_crisis_.282000-present.29"></span>Zimbabwe economic crisis (2000-present)</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=11" title="Edit section: Zimbabwe economic crisis (2000-present)"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Hyperinflation_in_Zimbabwe" title="Hyperinflation in Zimbabwe">Hyperinflation in Zimbabwe</a></div> <p><a href="/wiki/Zimbabwe" title="Zimbabwe">Zimbabwe</a> has had an economic crisis since the early 2000s with some periods of partial recovery inbetween. Hyperinflation peaked at an estimated 89.7 sextillion percent year-on-year in November 2008 then stabilising after the local currency was abandoned.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> In May 2020, annual inflation reached more than 800% following the reintroduction of the local currency, after which the government stopped releasing statistics as they had previously done over a decade earlier.<sup id="cite_ref-aljaz_24-0" class="reference"><a href="#cite_note-aljaz-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> GDP contracted from 2001 to 2008 and from 2018 to present.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Venezuela_economic_crisis_(2013–present)"><span id="Venezuela_economic_crisis_.282013.E2.80.93present.29"></span>Venezuela economic crisis (2013–present)</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=12" title="Edit section: Venezuela economic crisis (2013–present)"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela" title="2013–present economic crisis in Venezuela">2013–present economic crisis in Venezuela</a></div> <p>Since 2013, <a href="/wiki/Venezuela" title="Venezuela">Venezuela</a> has been suffering an economic crisis. It's the worst in Venezuelan history, caused by the economic policies of the president, <a href="/wiki/Nicol%C3%A1s_Maduro" title="Nicolás Maduro">Nicolás Maduro</a> the successor of <a href="/wiki/Hugo_Ch%C3%A1vez" title="Hugo Chávez">Hugo Chávez</a>, the fall in oil prices and internal and external factors. Since 2014, Venezuela's GDP has been in recession, falling more 40%.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> The economy has collapsed,<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> causing shortages of basics goods, economic downturn and hyperinflation since 2017.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> Also, there are drastic increases in the crime, corruption, poverty and hunger.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2018)">citation needed</span></a></i>]</sup> Millions of Venezuelans have fled to neighboring countries.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Other_economic_trends">Other economic trends</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=13" title="Edit section: Other economic trends"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/2008%E2%80%932010_Latvian_financial_crisis" class="mw-redirect" title="2008–2010 Latvian financial crisis">In Latvia</a>, GDP declined more than 20% from 2008 to 2010, one of the worst recessions on record.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> In Greece, GDP declined more than 26% starting in 2008.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Doom_loop">Doom loop</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=14" title="Edit section: Doom loop"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">"doom spiral" redirects here. For biological phenomenon, see <a href="/wiki/Ant_mill" title="Ant mill">ant mill</a>.</div> <p>In <a href="/wiki/Economics" title="Economics">economics</a>, a <b>doom loop</b> is "a negative spiral that can result when <a href="/wiki/Bank" title="Bank">banks</a> hold <a href="/wiki/Government_bond" title="Government bond">sovereign bonds</a> and <a href="/wiki/Government" title="Government">governments</a> <a href="/wiki/Bailout" title="Bailout">bail out</a> banks".<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> It can lead to economic collapse. </p><p>In 2021, Italian and French banks increased their holdings of sovereign debt to slightly worrying levels, as a result of stimulus spending and monetary policy.<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Alternative_theories">Alternative theories</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=15" title="Edit section: Alternative theories"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Austrian_school">Austrian school</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=16" title="Edit section: Austrian school"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Some economists (i.e. the <a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian School</a>, in particular <a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">Ludwig von Mises</a>), believe that government intervention and over-regulation of the economy can lead to the conditions for collapse. In particular, Austrian theoretical research has been focused on such problems emanating from socialist forms of economic organization. This however is not a theory of economic collapse involving the breakdown of freely functioning financial markets; rather, the focus is on economic malfunction and crisis emanating from state control. </p><p>However, many Austrian economists also subscribe to what is called the "ABCT", or Austrian Business Cycle Theory. Economist <a href="/wiki/Roger_Garrison" title="Roger Garrison">Roger Garrison</a> describes the bubble as merely a form of unsustainable boom (not a theory of all depressions), as Mises and <a href="/wiki/F.A._Hayek" class="mw-redirect" title="F.A. Hayek">F.A. Hayek</a> did, despite their disagreements on the exact workings of it.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> The essential part of the theory is that it is inherently unsustainable to try to manipulate monetary policy to boost both investment and consumption; usually through interest rate manipulation and bond-buying and such. The "boom" was created by "malinvestments," as Mises called them; business decisions that are bad investments and unsustainable in the long run because lowering interest rates by padding the supply of money and credit will only work in the short-term, but will ultimately collapse because the government can only hold down interest rates so long before fear of inflation kicks in (and deflation comes at the peak of the business cycle), or they go into hyperinflation (which is completely outside the realm of the ABCT). </p> <div class="mw-heading mw-heading3"><h3 id="Georgescu-Roegen's_theory_of_Earth's_ever_decreasing_carrying_capacity"><span id="Georgescu-Roegen.27s_theory_of_Earth.27s_ever_decreasing_carrying_capacity"></span><span class="anchor" id="Georgism_explanation"></span>Georgescu-Roegen's theory of Earth's ever decreasing carrying capacity</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=17" title="Edit section: Georgescu-Roegen's theory of Earth's ever decreasing carrying capacity"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Romanian_American" class="mw-redirect" title="Romanian American">Romanian American</a> economist <a href="/wiki/Nicholas_Georgescu-Roegen" title="Nicholas Georgescu-Roegen">Nicholas Georgescu-Roegen</a>, a <a href="/wiki/List_of_people_considered_father_or_mother_of_a_scientific_field" title="List of people considered father or mother of a scientific field">progenitor</a> in <a href="/wiki/Economics" title="Economics">economics</a> and the <a href="/wiki/Paradigm_shift#Kuhnian_paradigm_shifts" title="Paradigm shift">paradigm founder</a> of <a href="/wiki/Ecological_economics" title="Ecological economics">ecological economics</a>, has argued that the <a href="/wiki/Carrying_capacity" title="Carrying capacity">carrying capacity</a> of Earth—that is, Earth's capacity to sustain human populations and consumption levels — is bound to decrease sometime in the future as Earth's finite stock of <a href="/wiki/Mineral" title="Mineral">mineral resources</a> is presently <a href="/wiki/Mining" title="Mining">being extracted and put to use</a>; and consequently, that the <a href="/wiki/World_economy" title="World economy">world economy</a> as a whole is heading towards an <a href="/wiki/Nicholas_Georgescu-Roegen#Population_pressure,_mineral_resource_exhaustion_and_the_end_of_mankind" title="Nicholas Georgescu-Roegen">inevitable future collapse, leading to the demise of human civilisation itself</a>.<sup id="cite_ref-ngr01_42-0" class="reference"><a href="#cite_note-ngr01-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> </p><p>Georgescu-Roegen is basing his pessimistic prediction on the two following considerations: </p> <ul><li>According to his ecological view of <a href="/wiki/Pessimism#Entropy_pessimism" title="Pessimism">'entropy pessimism'</a>, matter and energy is neither created nor destroyed in man's economy, only transformed from states available for human purposes (valuable <a href="/wiki/Natural_resource" title="Natural resource">natural resources</a>) to states unavailable for human purposes (valueless <a href="/wiki/Waste" title="Waste">waste</a> and <a href="/wiki/Pollution" title="Pollution">pollution</a>). In effect, all of man's technologies and activities are only speeding up the general march against a future planetary <a href="/wiki/Heat_death_of_the_universe" title="Heat death of the universe">'heat death'</a> of degraded energy, exhausted natural resources and a deteriorated environment—a state of maximum entropy on Earth.</li> <li>According to his social theory of <a href="/wiki/Nicholas_Georgescu-Roegen#Man's_economic_struggle_and_the_social_evolution_of_mankind_(bioeconomics)" title="Nicholas Georgescu-Roegen">'bioeconomics'</a>, man's economic struggle to work and earn a livelihood is largely a continuation and extension of the biological struggle to sustain life and survive. This struggle manifests itself as a permanent social conflict that can be eliminated neither by man's decision to do so nor by the social evolution of mankind. Consequently, we are biologically unable to restrain ourselves collectively on a permanent and voluntary basis for the benefit of unknown future generations; the pressure of population on Earth's resources will only increase.</li></ul> <p>Taken together, the <a href="/wiki/Industrial_Revolution" title="Industrial Revolution">Industrial Revolution</a> in Britain in the second half of the 18th century has unintentionally thrust man's economy into a long, never-to-return <a href="/wiki/Overshoot_(population)" title="Overshoot (population)">overshoot-and-collapse trajectory</a> with regard to the <a href="/wiki/Peak_minerals" title="Peak minerals">Earth's mineral stock</a>. The <a href="/wiki/World_economy" title="World economy">world economy</a> will continue growing until its inevitable and final collapse in the future. From that point on, ever deepening scarcities will aggravate social conflict throughout the globe and ultimately spell the end of mankind itself, Georgescu-Roegen conjectures. </p><p>Georgescu-Roegen was the paradigm founder of ecological economics and is also considered the <a href="/wiki/Degrowth#Lasting_influence_of_Georgescu-Roegen" title="Degrowth">main intellectual figure influencing the degrowth movement</a>. Consequently, much work in these fields is devoted to discussing the existential impossibility of allocating Earth's finite stock of mineral resources evenly among an unknown number of present and future generations. This number of generations is likely to remain unknown to us, as there is no way — or only little way — of knowing in advance if or when <a href="/wiki/Human_extinction" title="Human extinction">mankind will ultimately face extinction</a>. In effect, <i>any</i> conceivable intertemporal allocation of the finite stock will inevitably end up with universal economic decline at some future point.<sup id="cite_ref-jr01_43-0" class="reference"><a href="#cite_note-jr01-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 253–256">: 253–256 </span></sup><sup id="cite_ref-kb01_44-0" class="reference"><a href="#cite_note-kb01-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 165">: 165 </span></sup><sup id="cite_ref-jm01_45-0" class="reference"><a href="#cite_note-jm01-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 168–171">: 168–171 </span></sup> <sup id="cite_ref-jg01_46-0" class="reference"><a href="#cite_note-jg01-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 150–153">: 150–153 </span></sup><sup id="cite_ref-js01_47-0" class="reference"><a href="#cite_note-js01-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 106–109">: 106–109 </span></sup><sup id="cite_ref-ck01_48-0" class="reference"><a href="#cite_note-ck01-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 546–549">: 546–549 </span></sup><sup id="cite_ref-ap01_49-0" class="reference"><a href="#cite_note-ap01-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 142–145">: 142–145 </span></sup> <sup id="cite_ref-hd01_50-0" class="reference"><a href="#cite_note-hd01-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=18" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 25em;"> <ul><li><a href="/wiki/Black_swan_theory" title="Black swan theory">Black swan theory</a></li> <li><a href="/wiki/Causes_of_the_Great_Depression" title="Causes of the Great Depression">Causes of the Great Depression</a></li> <li><a href="/wiki/Currency_crisis" title="Currency crisis">Currency crisis</a></li> <li><a href="/wiki/Dependency_ratio" title="Dependency ratio">Dependency ratio</a></li> <li><a href="/wiki/Devaluation" title="Devaluation">Devaluation</a></li> <li><a href="/wiki/Economic_bubble" title="Economic bubble">Economic bubble</a></li> <li><a href="/wiki/Great_Contraction" title="Great Contraction">Great Contraction</a></li> <li><a href="/wiki/Hindenburg_Omen" title="Hindenburg Omen">Hindenburg Omen</a></li> <li><a href="/wiki/Homelessness" title="Homelessness">Homelessness</a></li> <li><a href="/wiki/Pensions_crisis" title="Pensions crisis">Pensions crisis</a></li> <li><a href="/wiki/Rare_disaster" title="Rare disaster">Rare disaster</a></li> <li><a href="/wiki/Societal_collapse" title="Societal collapse">Societal collapse</a></li> <li><a href="/wiki/Sociocultural_evolution" title="Sociocultural evolution">Sociocultural evolution</a></li> <li><a href="/wiki/State_collapse" title="State collapse">State collapse</a></li> <li><a href="/wiki/Stock_market_crash" title="Stock market crash">Stock market crash</a></li> <li><a href="/wiki/Stock_market_crashes_in_India" title="Stock market crashes in India">Stock market crashes in India</a></li> <li><a href="/wiki/Survivalism" title="Survivalism">Survivalism</a></li> <li><a href="/wiki/Systemic_development" title="Systemic development">Systemic development</a></li> <li><a href="/wiki/Too_connected_to_fail" title="Too connected to fail">Too connected to fail</a></li> <li><a href="/wiki/The_Limits_to_Growth" title="The Limits to Growth">The Limits to Growth</a></li></ul></div> <p><b>Examples:</b> </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1184024115"><div class="div-col" style="column-width: 25em;"> <ul><li><a href="/wiki/Great_Famine_(Ireland)" title="Great Famine (Ireland)">Great Famine (Ireland)</a></li> <li><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a></li> <li><a href="/wiki/Panic_of_1873" title="Panic of 1873">Panic of 1873</a></li> <li><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a></li> <li><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a></li> <li><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></li> <li><a href="/wiki/Soviet_famine_of_1930%E2%80%931933" title="Soviet famine of 1930–1933">Soviet famine of 1930–1933</a></li> <li><a href="/wiki/Bengal_famine_of_1943" title="Bengal famine of 1943">Bengal famine of 1943</a></li> <li><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a></li> <li><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble</a></li> <li><a href="/wiki/List_of_stock_market_crashes_and_bear_markets" title="List of stock market crashes and bear markets">List of stock market crashes and bear markets</a></li></ul></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=19" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-Orlov2008-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-Orlov2008_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Orlov2008_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Orlov2008_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-Orlov2008_1-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFOrlov2008" class="citation book cs1">Orlov, Dmitry (2008). <a rel="nofollow" class="external text" href="https://archive.org/details/reinventingcolla00orlo"><i>Reinventing Collapse: The Soviet Example and American Prospects</i></a>. New Society Publishers. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-86571-606-3" title="Special:BookSources/978-0-86571-606-3"><bdi>978-0-86571-606-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Reinventing+Collapse%3A+The+Soviet+Example+and+American+Prospects&rft.pub=New+Society+Publishers&rft.date=2008&rft.isbn=978-0-86571-606-3&rft.aulast=Orlov&rft.aufirst=Dmitry&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Freinventingcolla00orlo&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSchiffDownes,_John2011" class="citation book cs1">Schiff, Peter; Downes, John (2011). <i>Crash Proof 2.0: How to Profit From the Economic Collapse</i>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-118-15200-3" title="Special:BookSources/978-1-118-15200-3"><bdi>978-1-118-15200-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Crash+Proof+2.0%3A+How+to+Profit+From+the+Economic+Collapse&rft.date=2011&rft.isbn=978-1-118-15200-3&rft.aulast=Schiff&rft.aufirst=Peter&rft.au=Downes%2C+John&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.youtube.com/watch?v=NmTBnhOXufg&feature=g-vrec&context=G2a87638RVAAAAAAAAAg">"<span class="cs1-kern-left"></span>'America will collapse', RT"</a>. 9 March 2009. <a rel="nofollow" class="external text" href="https://ghostarchive.org/varchive/youtube/20211213/NmTBnhOXufg">Archived</a> from the original on 13 December 2021 – via YouTube.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=%27America+will+collapse%27%2C+RT&rft.date=2009-03-09&rft_id=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DNmTBnhOXufg%26feature%3Dg-vrec%26context%3DG2a87638RVAAAAAAAAAg&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBernanke1995" class="citation journal cs1">Bernanke, Ben S. (1995). <a rel="nofollow" class="external text" href="http://www.nber.org/papers/w4814.pdf">"The Macroeconomics of the Great Depression: A Comparative Approach"</a> <span class="cs1-format">(PDF)</span>. <i>Journal of Money, Credit and Banking</i>. <b>27</b> (February): 1–28. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2077848">10.2307/2077848</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2077848">2077848</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Money%2C+Credit+and+Banking&rft.atitle=The+Macroeconomics+of+the+Great+Depression%3A+A+Comparative+Approach&rft.volume=27&rft.issue=February&rft.pages=1-28&rft.date=1995&rft_id=info%3Adoi%2F10.2307%2F2077848&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2077848%23id-name%3DJSTOR&rft.aulast=Bernanke&rft.aufirst=Ben+S.&rft_id=http%3A%2F%2Fwww.nber.org%2Fpapers%2Fw4814.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNorth1966" class="citation book cs1">North, Douglas C. (1966). <a rel="nofollow" class="external text" href="https://archive.org/details/economicgrowthof00doug"><i>The Economic Growth of the United States 1790–1860</i></a>. New York, London: W. W. Norton & Company. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-393-00346-8" title="Special:BookSources/978-0-393-00346-8"><bdi>978-0-393-00346-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Economic+Growth+of+the+United+States+1790%E2%80%931860&rft.place=New+York%2C+London&rft.pub=W.+W.+Norton+%26+Company&rft.date=1966&rft.isbn=978-0-393-00346-8&rft.aulast=North&rft.aufirst=Douglas+C.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Feconomicgrowthof00doug&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-:0-6"><span class="mw-cite-backlink">^ <a href="#cite_ref-:0_6-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:0_6-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:0_6-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:0_6-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-:0_6-4"><sup><i><b>e</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFOdling-Smee" class="citation web cs1">Odling-Smee, John. <a rel="nofollow" class="external text" href="https://www.imf.org/en/News/Articles/2015/09/28/04/53/sp073101">"The Economic Transition in Armenia -- Speech by John Odling-Smee, Director, European II Department"</a>. <i>International Monetary Fund</i><span class="reference-accessdate">. Retrieved <span class="nowrap">12 May</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=International+Monetary+Fund&rft.atitle=The+Economic+Transition+in+Armenia+--+Speech+by+John+Odling-Smee%2C+Director%2C+European+II+Department&rft.aulast=Odling-Smee&rft.aufirst=John&rft_id=https%3A%2F%2Fwww.imf.org%2Fen%2FNews%2FArticles%2F2015%2F09%2F28%2F04%2F53%2Fsp073101&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-Ferguson1975-7"><span class="mw-cite-backlink">^ <a href="#cite_ref-Ferguson1975_7-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Ferguson1975_7-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Ferguson1975_7-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-Ferguson1975_7-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFergusson1975" class="citation book cs1">Fergusson, Adam (1975). <a rel="nofollow" class="external text" href="http://www.goldonomic.com/When%20Money%20Dies.pdf"><i>When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany</i></a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/1-58648-994-1" title="Special:BookSources/1-58648-994-1"><bdi>1-58648-994-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=When+Money+Dies%3A+The+Nightmare+of+Deficit+Spending%2C+Devaluation%2C+and+Hyperinflation+in+Weimar+Germany&rft.date=1975&rft.isbn=1-58648-994-1&rft.aulast=Fergusson&rft.aufirst=Adam&rft_id=http%3A%2F%2Fwww.goldonomic.com%2FWhen%2520Money%2520Dies.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDavid_Teather_in_New_York2002" class="citation news cs1">David Teather in New York (20 April 2002). <a rel="nofollow" class="external text" href="https://www.theguardian.com/world/2002/apr/20/argentina.davidteather">"Argentina orders banks to close"</a>. <i>Guardian</i>. London<span class="reference-accessdate">. Retrieved <span class="nowrap">14 January</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Guardian&rft.atitle=Argentina+orders+banks+to+close&rft.date=2002-04-20&rft.au=David+Teather+in+New+York&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fworld%2F2002%2Fapr%2F20%2Fargentina.davidteather&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text">See, e.g. <a href="/wiki/Andrey_Korotayev" title="Andrey Korotayev">Korotayev, Andrey V.</a>, & Tsirel, Sergey V. <a rel="nofollow" class="external text" href="http://www.escholarship.org/uc/item/9jv108xp">A Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings, Juglar and Kitchin Cycles in Global Economic Development, and the 2008–2009 Economic Crisis</a>. <i>Structure and Dynamics</i>. 2010. Vol.4. #1. P.3-57.p 27. This is a secondary source. Primary sources are cited in article.</span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJung2009" class="citation news cs1">Jung (14 August 2009). <a rel="nofollow" class="external text" href="http://www.spiegel.de/international/germany/millions-billions-trillions-germany-in-the-era-of-hyperinflation-a-641758.html">"Germany in the Era of Hyperinflation"</a>. <i>Spiegel Online</i>. Spiegel<span class="reference-accessdate">. Retrieved <span class="nowrap">30 September</span> 2014</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Spiegel+Online&rft.atitle=Germany+in+the+Era+of+Hyperinflation&rft.date=2009-08-14&rft.au=Jung&rft_id=http%3A%2F%2Fwww.spiegel.de%2Finternational%2Fgermany%2Fmillions-billions-trillions-germany-in-the-era-of-hyperinflation-a-641758.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLindner2011" class="citation news cs1">Lindner, Fabian (24 November 2011). <a rel="nofollow" class="external text" href="https://www.theguardian.com/global/2011/nov/24/debt-crisis-germany-1931">"In today's debt crisis, Germany is the US of 1931"</a>. <i>The Guardian</i>. London.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=In+today%27s+debt+crisis%2C+Germany+is+the+US+of+1931&rft.date=2011-11-24&rft.aulast=Lindner&rft.aufirst=Fabian&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fglobal%2F2011%2Fnov%2F24%2Fdebt-crisis-germany-1931&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text">Der Spiegel, Wolfgang Münchau, <a rel="nofollow" class="external text" href="http://www.spiegel.de/wirtschaft/wolfgang-muenchau-ueber-das-wahlprogramm-der-fdp-a-916515.html">Das Dreißiger-Jahre-Programm der FDP</a></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://krugman.blogs.nytimes.com/2013/02/12/its-always-1923/">"It's Always 1923"</a>. <i>The New York Times</i>. 12 February 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=It%27s+Always+1923&rft.date=2013-02-12&rft_id=https%3A%2F%2Fkrugman.blogs.nytimes.com%2F2013%2F02%2F12%2Fits-always-1923%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">Real GDP per capita was $7099 in 1929 and $5056 in 1933; NIPA Table 7.1, row 9.</span> </li> <li id="cite_note-Bell-1940-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-Bell-1940_15-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBell1940" class="citation journal cs1">Bell, Spurgeon (1940). 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Cambridge, Massachusetts: Harvard University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0674257804" title="Special:BookSources/0674257804"><bdi>0674257804</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Entropy+Law+and+the+Economic+Process.&rft.place=Cambridge%2C+Massachusetts&rft.pub=Harvard+University+Press&rft.date=1971&rft.isbn=0674257804&rft.aulast=Georgescu-Roegen&rft.aufirst=Nicholas&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fentropylawe00nich&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-jr01-43"><span class="mw-cite-backlink"><b><a href="#cite_ref-jr01_43-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRifkin1980" class="citation book cs1"><a href="/wiki/Jeremy_Rifkin" title="Jeremy Rifkin">Rifkin, Jeremy</a> (1980). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20161018045326/http://www.foet.org/books/Entropy-toc.pdf"><i>Entropy: A New World View</i></a> <span class="cs1-format">(PDF)</span>. New York: The Viking Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0670297178" title="Special:BookSources/0670297178"><bdi>0670297178</bdi></a>. Archived from <a rel="nofollow" class="external text" href="http://www.foet.org/books/Entropy-toc.pdf">the original</a> <span class="cs1-format">(PDF contains only the title and contents pages of the book)</span> on 18 October 2016<span class="reference-accessdate">. Retrieved <span class="nowrap">3 March</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Entropy%3A+A+New+World+View.&rft.place=New+York&rft.pub=The+Viking+Press&rft.date=1980&rft.isbn=0670297178&rft.aulast=Rifkin&rft.aufirst=Jeremy&rft_id=http%3A%2F%2Fwww.foet.org%2Fbooks%2FEntropy-toc.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-kb01-44"><span class="mw-cite-backlink"><b><a href="#cite_ref-kb01_44-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBoulding1981" class="citation book cs1"><a href="/wiki/Kenneth_E._Boulding" title="Kenneth E. Boulding">Boulding, Kenneth E.</a> (1981). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/evolutionaryecon0000boul"><i>Evolutionary Economics</i></a></span>. Beverly Hills: Sage Publications. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0803916485" title="Special:BookSources/0803916485"><bdi>0803916485</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Evolutionary+Economics&rft.place=Beverly+Hills&rft.pub=Sage+Publications&rft.date=1981&rft.isbn=0803916485&rft.aulast=Boulding&rft.aufirst=Kenneth+E.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fevolutionaryecon0000boul&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-jm01-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-jm01_45-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMartínez-Alier1987" class="citation book cs1"><a href="/wiki/Joan_Martinez_Alier" title="Joan Martinez Alier">Martínez-Alier, Juan</a> (1987). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/ecologicaleconom0000mart"><i>Ecological Economics: Energy, Environment and Society</i></a></span>. Oxford: Basil Blackwell. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0631171460" title="Special:BookSources/0631171460"><bdi>0631171460</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Ecological+Economics%3A+Energy%2C+Environment+and+Society.&rft.place=Oxford&rft.pub=Basil+Blackwell&rft.date=1987&rft.isbn=0631171460&rft.aulast=Mart%C3%ADnez-Alier&rft.aufirst=Juan&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fecologicaleconom0000mart&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-jg01-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-jg01_46-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGowdyMesner1998" class="citation journal cs1">Gowdy, John M.; Mesner, Susan (1998). <a rel="nofollow" class="external text" href="http://eurekamag.com/pdf/003/003304967.pdf">"The Evolution of Georgescu-Roegen's Bioeconomics"</a> <span class="cs1-format">(PDF)</span>. <i>Review of Social Economy</i>. <b>56</b> (2). London: Routledge: 136–156. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F00346769800000016">10.1080/00346769800000016</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Review+of+Social+Economy&rft.atitle=The+Evolution+of+Georgescu-Roegen%27s+Bioeconomics&rft.volume=56&rft.issue=2&rft.pages=136-156&rft.date=1998&rft_id=info%3Adoi%2F10.1080%2F00346769800000016&rft.aulast=Gowdy&rft.aufirst=John+M.&rft.au=Mesner%2C+Susan&rft_id=http%3A%2F%2Feurekamag.com%2Fpdf%2F003%2F003304967.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-js01-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-js01_47-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSchmitz2007" class="citation book cs1">Schmitz, John E.J. (2007). <a rel="nofollow" class="external text" href="https://secondlawoflife.wordpress.com/contents"><i>The Second Law of Life: Energy, Technology, and the Future of Earth As We Know It</i></a> <span class="cs1-format">(Author's science blog, based on his textbook)</span>. Norwich: William Andrew Publishing. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0815515371" title="Special:BookSources/978-0815515371"><bdi>978-0815515371</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Second+Law+of+Life%3A+Energy%2C+Technology%2C+and+the+Future+of+Earth+As+We+Know+It.&rft.place=Norwich&rft.pub=William+Andrew+Publishing&rft.date=2007&rft.isbn=978-0815515371&rft.aulast=Schmitz&rft.aufirst=John+E.J.&rft_id=https%3A%2F%2Fsecondlawoflife.wordpress.com%2Fcontents&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-ck01-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-ck01_48-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKerschner2010" class="citation journal cs1">Kerschner, Christian (2010). <a rel="nofollow" class="external text" href="http://degrowth.org/wp-content/uploads/2012/11/Kerschner-2010.pdf">"Economic de-growth vs. steady-state economy"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Journal_of_Cleaner_Production" title="Journal of Cleaner Production">Journal of Cleaner Production</a></i>. <b>18</b> (6). Amsterdam: <a href="/wiki/Elsevier" title="Elsevier">Elsevier</a>: 544–551. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.jclepro.2009.10.019">10.1016/j.jclepro.2009.10.019</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Cleaner+Production&rft.atitle=Economic+de-growth+vs.+steady-state+economy&rft.volume=18&rft.issue=6&rft.pages=544-551&rft.date=2010&rft_id=info%3Adoi%2F10.1016%2Fj.jclepro.2009.10.019&rft.aulast=Kerschner&rft.aufirst=Christian&rft_id=http%3A%2F%2Fdegrowth.org%2Fwp-content%2Fuploads%2F2012%2F11%2FKerschner-2010.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-ap01-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-ap01_49-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPerez-Carmona2013" class="citation book cs1">Perez-Carmona, Alexander (2013). <a rel="nofollow" class="external text" href="https://www.slideshare.net/lucieevers1/growth-in-margin-of-ecological-thought-by-perez">"Growth: A Discussion of the Margins of Economic and Ecological Thought"</a>. In Meuleman, Louis (ed.). <i>Transgovernance. Advancing Sustainability Governance</i>. Heidelberg: Springer. pp. 83–161. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-3-642-28009-2_3">10.1007/978-3-642-28009-2_3</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9783642280085" title="Special:BookSources/9783642280085"><bdi>9783642280085</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Growth%3A+A+Discussion+of+the+Margins+of+Economic+and+Ecological+Thought&rft.btitle=Transgovernance.+Advancing+Sustainability+Governance.&rft.place=Heidelberg&rft.pages=83-161&rft.pub=Springer&rft.date=2013&rft_id=info%3Adoi%2F10.1007%2F978-3-642-28009-2_3&rft.isbn=9783642280085&rft.aulast=Perez-Carmona&rft.aufirst=Alexander&rft_id=http%3A%2F%2Fwww.slideshare.net%2Flucieevers1%2Fgrowth-in-margin-of-ecological-thought-by-perez&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> <li id="cite_note-hd01-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-hd01_50-0">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDaly,_Herman_E.2015" class="citation journal cs1"><a href="/wiki/Herman_Daly" title="Herman Daly">Daly, Herman E.</a> (2015). <a rel="nofollow" class="external text" href="http://www.greattransition.org/publication/economics-for-a-full-world">"Economics for a Full World"</a>. <i>Scientific American</i>. <b>293</b> (3): 100–7. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1038%2Fscientificamerican0905-100">10.1038/scientificamerican0905-100</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/16121860">16121860</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:13441670">13441670</a><span class="reference-accessdate">. Retrieved <span class="nowrap">23 November</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Scientific+American&rft.atitle=Economics+for+a+Full+World&rft.volume=293&rft.issue=3&rft.pages=100-7&rft.date=2015&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A13441670%23id-name%3DS2CID&rft_id=info%3Apmid%2F16121860&rft_id=info%3Adoi%2F10.1038%2Fscientificamerican0905-100&rft.au=Daly%2C+Herman+E.&rft_id=http%3A%2F%2Fwww.greattransition.org%2Fpublication%2Feconomics-for-a-full-world&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+collapse" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_collapse&action=edit&section=20" title="Edit section: External links"><span>edit</span></a><span 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template">e</abbr></a></li></ul></div><div id="Global_catastrophic_risks" style="font-size:114%;margin:0 4em"><a href="/wiki/Global_catastrophic_risk" title="Global catastrophic risk">Global catastrophic risks</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Future_of_Earth" title="Future of Earth">Future of the Earth</a></li> <li><a href="/wiki/Future_of_an_expanding_universe" title="Future of an expanding universe">Future of an expanding universe</a> <ul><li><a href="/wiki/Ultimate_fate_of_the_universe" title="Ultimate fate of the universe">Ultimate fate of the universe</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Technological</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Chemical_warfare" title="Chemical warfare">Chemical warfare</a></li> <li><a href="/wiki/Cyberattack" title="Cyberattack">Cyberattack</a> <ul><li><a href="/wiki/Cyberwarfare" title="Cyberwarfare">Cyberwarfare</a></li> <li><a href="/wiki/Cyberterrorism" title="Cyberterrorism">Cyberterrorism</a></li> <li><a href="/wiki/Cybergeddon" title="Cybergeddon">Cybergeddon</a></li></ul></li> <li><a href="/wiki/Gray_goo" title="Gray goo">Gray goo</a></li> <li><a href="/wiki/Industrial_applications_of_nanotechnology#Weapons" title="Industrial applications of nanotechnology">Nanoweapons</a></li> <li><a href="/wiki/Kinetic_bombardment" title="Kinetic bombardment">Kinetic bombardment</a> <ul><li><a href="/wiki/Kinetic_energy_weapon" title="Kinetic energy weapon">Kinetic energy weapon</a></li></ul></li> <li><a href="/wiki/Nuclear_warfare" title="Nuclear warfare">Nuclear warfare</a> <ul><li><a href="/wiki/Mutual_assured_destruction" title="Mutual assured destruction">Mutual assured destruction</a></li> <li><a href="/wiki/Dead_Hand" title="Dead Hand">Dead Hand</a></li> <li><a href="/wiki/Doomsday_Clock" title="Doomsday Clock">Doomsday Clock</a></li> <li><a href="/wiki/Doomsday_device" title="Doomsday device">Doomsday device</a></li> <li><a href="/wiki/Antimatter_weapon" title="Antimatter weapon">Antimatter weapon</a></li></ul></li> <li><a href="/wiki/Electromagnetic_pulse" title="Electromagnetic pulse">Electromagnetic pulse</a> (EMP)</li> <li><a href="/wiki/Safety_of_high-energy_particle_collision_experiments" title="Safety of high-energy particle collision experiments">Safety of high-energy particle collision experiments</a> <ul><li><a href="/wiki/Micro_black_hole" title="Micro black hole">Micro black hole</a></li> <li><a href="/wiki/Strangelet" title="Strangelet">Strangelet</a></li></ul></li> <li><a href="/wiki/Synthetic_intelligence" title="Synthetic intelligence">Synthetic intelligence</a> / <a href="/wiki/Artificial_intelligence" title="Artificial intelligence">Artificial intelligence</a> <ul><li><a href="/wiki/AI_takeover" title="AI takeover">AI takeover</a></li> <li><a href="/wiki/Existential_risk_from_artificial_general_intelligence" class="mw-redirect" title="Existential risk from artificial general intelligence">Existential risk from artificial intelligence</a></li> <li><a href="/wiki/Technological_singularity" title="Technological singularity">Technological singularity</a></li></ul></li> <li><a href="/wiki/Transhumanism" title="Transhumanism">Transhumanism</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Sociological</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Anthropogenic_hazard" class="mw-redirect" title="Anthropogenic hazard">Anthropogenic hazard</a></li> <li><a href="/wiki/Collapsology" title="Collapsology">Collapsology</a></li> <li><a href="/wiki/Doomsday_argument" title="Doomsday argument">Doomsday argument</a> <ul><li><a href="/wiki/Self-indication_assumption_doomsday_argument_rebuttal" title="Self-indication assumption doomsday argument rebuttal">Self-indication assumption doomsday argument rebuttal</a></li> <li><a href="/wiki/Self-referencing_doomsday_argument_rebuttal" title="Self-referencing doomsday argument rebuttal">Self-referencing doomsday argument rebuttal</a></li></ul></li> <li><a class="mw-selflink selflink">Economic collapse</a></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusian catastrophe</a></li> <li><a href="/wiki/New_World_Order_(conspiracy_theory)" class="mw-redirect" title="New World Order (conspiracy theory)">New World Order (conspiracy theory)</a></li> <li><a href="/wiki/Nuclear_holocaust" title="Nuclear holocaust">Nuclear holocaust</a> <ul><li><a href="/wiki/Cobalt_bomb" title="Cobalt bomb">cobalt</a></li> <li><a href="/wiki/Nuclear_famine" title="Nuclear famine">famine</a></li> <li><a href="/wiki/Nuclear_winter" title="Nuclear winter">winter</a></li></ul></li> <li><a href="/wiki/Societal_collapse" title="Societal collapse">Societal collapse</a></li> <li><a href="/wiki/State_collapse" title="State collapse">State collapse</a></li> <li><a href="/wiki/World_War_III" title="World War III">World War III</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Climate_apocalypse" title="Climate apocalypse">Ecological</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Climate_variability_and_change" title="Climate variability and change">Climate change</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Anoxic_event" title="Anoxic event">Anoxic event</a></li> <li><a href="/wiki/Biodiversity_loss" title="Biodiversity loss">Biodiversity loss</a> <ul><li><a href="/wiki/Mass_mortality_event" title="Mass mortality event">Mass mortality event</a></li></ul></li> <li><a href="/wiki/Cascade_effect_(ecology)" title="Cascade effect (ecology)">Cascade effect</a></li> <li><a href="/wiki/Cataclysmic_pole_shift_hypothesis" title="Cataclysmic pole shift hypothesis">Cataclysmic pole shift hypothesis</a></li> <li><a href="/wiki/Climate_change_and_civilizational_collapse" title="Climate change and civilizational collapse">Climate change and civilizational collapse</a></li> <li><a href="/wiki/Deforestation" title="Deforestation">Deforestation</a></li> <li><a href="/wiki/Desertification" title="Desertification">Desertification</a></li> <li><a href="/wiki/Extinction_risk_from_climate_change" title="Extinction risk from climate change">Extinction risk from climate change</a> <ul><li><a href="/wiki/Tipping_points_in_the_climate_system" title="Tipping points in the climate system">Tipping points in the climate system</a></li></ul></li> <li><a href="/wiki/Flood_basalt" title="Flood basalt">Flood basalt</a></li> <li><a href="/wiki/Global_dimming" title="Global dimming">Global dimming</a></li> <li><a href="/wiki/Global_terrestrial_stilling" title="Global terrestrial stilling">Global terrestrial stilling</a></li> <li><a href="/wiki/Climate_change" title="Climate change">Global warming</a></li> <li><a href="/wiki/Hypercane" title="Hypercane">Hypercane</a></li> <li><a href="/wiki/Ice_age" title="Ice age">Ice age</a></li> <li><a href="/wiki/Ecocide" title="Ecocide">Ecocide</a></li> <li><a href="/wiki/Ecological_collapse" class="mw-redirect" title="Ecological collapse">Ecological collapse</a></li> <li><a href="/wiki/Environmental_degradation" title="Environmental degradation">Environmental degradation</a></li> <li><a href="/wiki/Habitat_destruction" title="Habitat destruction">Habitat destruction</a></li> <li><a href="/wiki/Human_impact_on_the_environment" title="Human impact on the environment">Human impact on the environment</a> <ul><li><a href="/wiki/Environmental_issues_with_coral_reefs" title="Environmental issues with coral reefs">coral reefs</a></li> <li><a href="/wiki/Human_impact_on_marine_life" title="Human impact on marine life">on marine life</a></li></ul></li> <li><a href="/wiki/Land_degradation" title="Land degradation">Land degradation</a></li> <li><a href="/wiki/Land_consumption" title="Land consumption">Land consumption</a></li> <li><a href="/wiki/Land_surface_effects_on_climate" title="Land surface effects on climate">Land surface effects on climate</a></li> <li><a href="/wiki/Ocean_acidification" title="Ocean acidification">Ocean acidification</a></li> <li><a href="/wiki/Ozone_depletion" title="Ozone depletion">Ozone depletion</a></li> <li><a href="/wiki/Resource_depletion" title="Resource depletion">Resource depletion</a></li> <li><a href="/wiki/Sea_level_rise" title="Sea level rise">Sea level rise</a></li> <li><a href="/wiki/Supervolcano" title="Supervolcano">Supervolcano</a> <ul><li><a href="/wiki/Volcanic_winter" title="Volcanic winter">winter</a></li></ul></li> <li><a href="/wiki/Verneshot" title="Verneshot">Verneshot</a></li> <li><a href="/wiki/Water_pollution" title="Water pollution">Water pollution</a></li> <li><a href="/wiki/Water_scarcity" title="Water scarcity">Water scarcity</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Earth_Overshoot_Day" title="Earth Overshoot Day">Earth Overshoot Day</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Overexploitation" title="Overexploitation">Overexploitation</a></li> <li><a href="/wiki/Overpopulation" title="Overpopulation">Overpopulation</a> <ul><li><a href="/wiki/Human_overpopulation" title="Human overpopulation">Human overpopulation</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Biological</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Extinction" title="Extinction">Extinction</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Extinction_event" title="Extinction event">Extinction event</a></li> <li><a href="/wiki/Holocene_extinction" title="Holocene extinction">Holocene extinction</a></li> <li><a href="/wiki/Human_extinction" title="Human extinction">Human extinction</a></li> <li><a href="/wiki/List_of_extinction_events" title="List of extinction events">List of extinction events</a></li> <li><a href="/wiki/Genetic_erosion" title="Genetic erosion">Genetic erosion</a></li> <li><a href="/wiki/Genetic_pollution" title="Genetic pollution">Genetic pollution</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Others</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Biodiversity_loss" title="Biodiversity loss">Biodiversity loss</a> <ul><li><a href="/wiki/Decline_in_amphibian_populations" title="Decline in amphibian populations">Decline in amphibian populations</a></li> <li><a href="/wiki/Decline_in_insect_populations" title="Decline in insect populations">Decline in insect populations</a></li></ul></li> <li><a href="/wiki/Biotechnology_risk" title="Biotechnology risk">Biotechnology risk</a> <ul><li><a href="/wiki/Biological_agent" title="Biological agent">Biological agent</a></li> <li><a href="/wiki/Biological_warfare" title="Biological warfare">Biological warfare</a></li> <li><a href="/wiki/Bioterrorism" title="Bioterrorism">Bioterrorism</a></li></ul></li> <li><a href="/wiki/Colony_collapse_disorder" title="Colony collapse disorder">Colony collapse disorder</a></li> <li><a href="/wiki/Defaunation" title="Defaunation">Defaunation</a></li> <li><a href="/wiki/Dysgenics" title="Dysgenics">Dysgenics</a></li> <li><a href="/wiki/Interplanetary_contamination" title="Interplanetary contamination">Interplanetary contamination</a></li> <li><a href="/wiki/Pandemic" title="Pandemic">Pandemic</a></li> <li><a href="/wiki/Pollinator_decline" title="Pollinator decline">Pollinator decline</a></li> <li><a href="/wiki/Overfishing" title="Overfishing">Overfishing</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Astronomical</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Big_Crunch" title="Big Crunch">Big Crunch</a></li> <li><a href="/wiki/Big_Rip" title="Big Rip">Big Rip</a></li> <li><a href="/wiki/Coronal_mass_ejection" title="Coronal mass ejection">Coronal mass ejection</a></li> <li><a href="/wiki/Cosmological_phase_transition" title="Cosmological phase transition">Cosmological phase transition</a></li> <li><a href="/wiki/Geomagnetic_storm" title="Geomagnetic storm">Geomagnetic storm</a></li> <li><a href="/wiki/False_vacuum_decay" class="mw-redirect" title="False vacuum decay">False vacuum decay</a></li> <li><a href="/wiki/Gamma-ray_burst" title="Gamma-ray burst">Gamma-ray burst</a></li> <li><a href="/wiki/Heat_death_of_the_universe" title="Heat death of the universe">Heat death of the universe</a></li> <li><a href="/wiki/Proton_decay" title="Proton decay">Proton decay</a></li> <li><a href="/wiki/Virtual_black_hole" title="Virtual black hole">Virtual black hole</a></li> <li><a href="/wiki/Impact_event" title="Impact event">Impact event</a> <ul><li><a href="/wiki/Asteroid_impact_avoidance" title="Asteroid impact avoidance">Asteroid impact avoidance</a></li> <li><a href="/wiki/Asteroid_impact_prediction" title="Asteroid impact prediction">Asteroid impact prediction</a></li> <li><a href="/wiki/Potentially_hazardous_object" title="Potentially hazardous object">Potentially hazardous object</a> <ul><li><a href="/wiki/Near-Earth_object" title="Near-Earth object">Near-Earth object</a></li></ul></li> <li><a href="/wiki/Impact_winter" title="Impact winter">winter</a></li> <li><a href="/wiki/Rogue_planet" title="Rogue planet">Rogue planet</a></li></ul></li> <li><a href="/wiki/Near-Earth_supernova" title="Near-Earth supernova">Near-Earth supernova</a></li> <li><a href="/wiki/Hypernova" title="Hypernova">Hypernova</a></li> <li><a href="/wiki/Micronova" title="Micronova">Micronova</a></li> <li><a href="/wiki/Solar_flare" title="Solar flare">Solar flare</a></li> <li><a href="/wiki/Stellar_collision" title="Stellar collision">Stellar collision</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Eschatology" title="Eschatology">Eschatological</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Buddhist_eschatology" title="Buddhist eschatology">Buddhist</a> <ul><li><a href="/wiki/Maitreya" title="Maitreya">Maitreya</a></li> <li><a href="/wiki/Three_Ages_of_Buddhism" title="Three Ages of Buddhism">Three Ages</a></li></ul></li> <li><a href="/wiki/Hindu_eschatology" title="Hindu eschatology">Hindu</a> <ul><li><a href="/wiki/Kalki" title="Kalki">Kalki</a></li> <li><a href="/wiki/Kali_Yuga" title="Kali Yuga">Kali Yuga</a></li></ul></li> <li><a href="/wiki/Last_Judgment" title="Last Judgment">Last Judgement</a></li> <li><a href="/wiki/Second_Coming" title="Second Coming">Second Coming</a> <ul><li><a href="/wiki/Book_of_Enoch" title="Book of Enoch">1 Enoch</a></li> <li><a href="/wiki/Book_of_Daniel" title="Book of Daniel">Daniel</a> <ul><li><a href="/wiki/Abomination_of_desolation" title="Abomination of desolation">Abomination of desolation</a></li> <li><a href="/wiki/Prophecy_of_Seventy_Weeks" title="Prophecy of Seventy Weeks">Prophecy of Seventy Weeks</a></li></ul></li> <li><a href="/wiki/Messiah" title="Messiah">Messiah</a></li> <li><a href="/wiki/Christian_eschatology" title="Christian eschatology">Christian</a> <ul><li><a href="/wiki/Futurism_(Christianity)" title="Futurism (Christianity)">Futurism</a></li> <li><a href="/wiki/Historicism_(Christianity)" title="Historicism (Christianity)">Historicism</a> <ul><li><a href="/wiki/Historicist_interpretations_of_the_Book_of_Revelation" title="Historicist interpretations of the Book of Revelation">Interpretations of Revelation</a></li></ul></li> <li><a href="/wiki/Idealism_(Christian_eschatology)" title="Idealism (Christian eschatology)"> Idealism</a></li> <li><a href="/wiki/Preterism" title="Preterism">Preterism</a></li> <li><a href="/wiki/2_Esdras" title="2 Esdras">2 Esdras</a></li> <li><a href="/wiki/Second_Epistle_to_the_Thessalonians" title="Second Epistle to the Thessalonians">2 Thessalonians</a> <ul><li><a href="/wiki/Man_of_sin" title="Man of sin">Man of sin</a></li> <li><a href="/wiki/Katechon" title="Katechon">Katechon</a></li></ul></li> <li><a href="/wiki/Antichrist" title="Antichrist">Antichrist</a></li> <li><a href="/wiki/Book_of_Revelation" title="Book of Revelation">Book of Revelation</a> <ul><li><a href="/wiki/Events_of_Revelation" title="Events of Revelation">Events</a> <ul><li><a href="/wiki/Four_Horsemen_of_the_Apocalypse" title="Four Horsemen of the Apocalypse">Four Horsemen of the Apocalypse</a></li> <li><a href="/wiki/Lake_of_fire" title="Lake of fire">Lake of fire</a></li> <li><a href="/wiki/Number_of_the_beast" title="Number of the beast">Number of the Beast</a></li> <li><a href="/wiki/Seven_bowls" title="Seven bowls">Seven bowls</a></li> <li><a href="/wiki/Seven_seals" title="Seven seals">Seven seals</a></li> <li><a href="/wiki/The_Beast_(Revelation)" title="The Beast (Revelation)">The Beast</a></li> <li><a href="/wiki/Two_witnesses" title="Two witnesses">Two witnesses</a></li> <li><a href="/wiki/War_in_Heaven" title="War in Heaven">War in Heaven</a></li> <li><a href="/wiki/Whore_of_Babylon" title="Whore of Babylon">Whore of Babylon</a></li></ul></li></ul></li> <li><a href="/wiki/Great_Apostasy" title="Great Apostasy">Great Apostasy</a></li> <li><a href="/wiki/New_Earth_(Christianity)" title="New Earth (Christianity)">New Earth</a></li> <li><a href="/wiki/New_Jerusalem" title="New Jerusalem">New Jerusalem</a></li> <li><a href="/wiki/Olivet_Discourse" title="Olivet Discourse">Olivet Discourse</a> <ul><li><a href="/wiki/Great_Tribulation" title="Great Tribulation">Great Tribulation</a></li></ul></li> <li><a href="/wiki/Son_of_perdition" title="Son of perdition">Son of perdition</a></li> <li><a href="/wiki/The_Sheep_and_the_Goats" title="The Sheep and the Goats">Sheep and Goats</a></li></ul></li> <li><a href="/wiki/Islamic_eschatology" title="Islamic eschatology">Islamic</a> <ul><li><a href="/wiki/Qa%27im_Al_Muhammad" title="Qa'im Al Muhammad">Al-Qa'im</a></li> <li><a href="/wiki/Beast_of_the_Earth" title="Beast of the Earth">Beast of the Earth</a></li> <li><a href="/wiki/Dhu_al-Qarnayn" title="Dhu al-Qarnayn">Dhu al-Qarnayn</a></li> <li><a href="/wiki/Dhul-Suwayqatayn" title="Dhul-Suwayqatayn">Dhul-Suwayqatayn</a></li> <li><a href="/wiki/Al-Masih_ad-Dajjal" title="Al-Masih ad-Dajjal">Dajjal</a></li> <li><a href="/wiki/Israfil" title="Israfil">Israfil</a></li> <li><a href="/wiki/Mahdi" title="Mahdi">Mahdi</a></li> <li><a href="/wiki/Sufyani" title="Sufyani">Sufyani</a></li></ul></li> <li><a href="/wiki/Jewish_eschatology" title="Jewish eschatology">Jewish</a> <ul><li><a href="/wiki/Messiah_in_Judaism" title="Messiah in Judaism">Messiah</a></li> <li><a href="/wiki/Gog_and_Magog" title="Gog and Magog">War of Gog and Magog</a></li> <li><a href="/wiki/Third_Temple" title="Third Temple">Third Temple</a></li></ul></li></ul></li> <li><a href="/wiki/Ragnar%C3%B6k" title="Ragnarök">Norse</a></li> <li><a href="/wiki/Frashokereti" title="Frashokereti">Zoroastrian</a> <ul><li><a href="/wiki/Saoshyant" title="Saoshyant">Saoshyant</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Others</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2011_end_times_prediction" title="2011 end times prediction">2011 end times prediction</a></li> <li><a href="/wiki/2012_phenomenon" title="2012 phenomenon">2012 phenomenon</a></li> <li><a href="/wiki/Apocalypse" title="Apocalypse">Apocalypse</a></li> <li><a href="/wiki/Apocalyptic_literature" title="Apocalyptic literature">Apocalyptic literature</a></li> <li><a href="/wiki/Apocalypticism" title="Apocalypticism">Apocalypticism</a></li> <li><a href="/wiki/Armageddon" title="Armageddon">Armageddon</a></li> <li><a href="/wiki/Blood_moon_prophecy" title="Blood moon prophecy">Blood moon prophecy</a></li> <li><a href="/wiki/Earth_Changes" title="Earth Changes">Earth Changes</a></li> <li><a href="/wiki/Global_catastrophic_risk" title="Global catastrophic risk">End time</a></li> <li><a href="/wiki/Gog_and_Magog" title="Gog and Magog">Gog and Magog</a></li> <li><a href="/wiki/List_of_dates_predicted_for_apocalyptic_events" title="List of dates predicted for apocalyptic events">List of dates predicted for apocalyptic events</a></li> <li><a href="/wiki/Messianism" title="Messianism">Messianism</a> <ul><li><a href="/wiki/Messianic_Age" title="Messianic Age">Messianic Age</a></li></ul></li> <li><a href="/wiki/Millenarianism" title="Millenarianism">Millenarianism</a></li> <li><a href="/wiki/Millennialism" title="Millennialism">Millennialism</a> <ul><li><a href="/wiki/Premillennialism" title="Premillennialism">Premillennialism</a></li> <li><a href="/wiki/Amillennialism" title="Amillennialism">Amillennialism</a></li> <li><a href="/wiki/Postmillennialism" title="Postmillennialism">Postmillennialism</a></li></ul></li> <li><a href="/wiki/Nemesis_(hypothetical_star)" title="Nemesis (hypothetical star)">Nemesis (hypothetical star)</a></li> <li><a href="/wiki/Nibiru_cataclysm" title="Nibiru cataclysm">Nibiru cataclysm</a></li> <li><a href="/wiki/Rapture" title="Rapture">Rapture</a> <ul><li><a href="/wiki/Rapture#Prewrath_premillennialism" title="Rapture">Prewrath</a></li> <li><a href="/wiki/Post-tribulation_rapture" title="Post-tribulation rapture">Post-tribulation rapture</a></li></ul></li> <li><a href="/wiki/Universal_resurrection" title="Universal resurrection">Resurrection of the dead</a></li> <li><a href="/wiki/World_to_come" title="World to come">World to come</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Fictional</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Alien_invasion" title="Alien invasion">Alien invasion</a></li> <li><a href="/wiki/Apocalyptic_and_post-apocalyptic_fiction" title="Apocalyptic and post-apocalyptic fiction">Apocalyptic and post-apocalyptic fiction</a> <ul><li><a href="/wiki/List_of_apocalyptic_and_post-apocalyptic_fiction" title="List of apocalyptic and post-apocalyptic fiction">List of apocalyptic and post-apocalyptic fiction</a></li> <li><a href="/wiki/List_of_apocalyptic_films" title="List of apocalyptic films">List of apocalyptic films</a></li></ul></li> <li><a href="/wiki/Climate_fiction" title="Climate fiction">Climate fiction</a></li> <li><a href="/wiki/Disaster_film" title="Disaster film">Disaster films</a> <ul><li><a href="/wiki/List_of_disaster_films" title="List of disaster films">List of disaster films</a></li></ul></li> <li><a href="/wiki/List_of_fictional_doomsday_devices" title="List of fictional doomsday devices">List of 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