The economic crisis that broke out in 1873 is absolutely the longest-lasting economic crisis in human economic history.
However, in reality, this economic crisis is divided into two phases. The first phase is from 1873 to 1874, mainly affecting the United States and Germany, which were the two major powers rapidly rising during the Second Industrial Revolution.
The second phase is from 1876 to 1878, mainly affecting the United Kingdom.
From this, it can also be seen that the countries that were seriously affected in the early stages of the economic crisis were those that had developed rapidly in recent times. Old powers like England and France were not seriously affected, or rather, the real economic crisis had not yet arrived.
