For almost two centuries, the emergence and development of a world industrial society in many economies have been marked by crises that have witnessed an increasing decline in production, a accumulation of unrealized products in the market, a drop in prices, a breakdown of the system of mutual calculations, collapse of banking systems, collapse of industrial and trade firms, and a sharp rise in unemployment.
In the special literature, the economic crisis is characterized as a breach of the balance between demand and supply of goods and services.
The crises accompany the history of human society. At the outset, they have been manifested as agricultural underproduction crises, since the mid-nineteenth century, as a violation of the balance between industrial production and the demand for money.
Economic crises prior to the twentieth century were limited to one, two or three countries, then became international. Despite the fact that in recent decades the world community has put in place mechanisms to prevent global crises (improvement of State management of economic processes, establishment of international financial organizations, monitoring, etc), as evidenced by the history of world economic cataclysms, it is not possible to predict or avoid them. In Eurasia and America, economic crises have been around 20 times for almost two centuries.
World Economic crisiswhich struck the people ' s economy and public life at the same time as the United States, Germany, England and France in 1857. The crisis started in the United States. The reason was the massive bankruptcy of railway companies and the collapse of the stock market. The collapse on the stock market triggered a crisis in the American banking system. The same year, the crisis went to England and then to Europe. The waves of stock exchanges went even in Latin America. In the period of crisis, the production of iron in the US decreased by 20 per cent, and cotton consumption by 27 per cent. In Great Britain, the most affected was the shipment, where production fell by 26 per cent. In Germany, iron consumption fell by 25 per cent; in France, ‐ by 13 per cent, iron and cotton washing; in Russia, iron floating fell by 17 per cent, and cotton tissue by 14 per cent.