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The Great Depression was a period of severe global economic downturn that occurred from 1929 to 1939. It was characterised by high unemployment rates, crisies of liquidity, and widespread business failures around the world. [ 1 ] The economic contagion began around September 1929 in the United States, the largest economy in the world. [ 2 ]
The Wall Street Crash of 1929 is often cited as the beginning of the Great Depression. It began on October 24, 1929, and kept going down until March 1933. It was the longest and most devastating stock market crash in the history of the United States. Much of the stock market crash can be attributed to exuberance and false expectations.
Essays on the Great Depression (2000) Bernstein, Michael A. The Great Depression: Delayed Recovery and Economic Change in America, 1929–1939 (1989) focus on low-growth and high-growth industries; Bordo, Michael D., Claudia Goldin, and Eugene N. White, eds. The Defining Moment: The Great Depression and the American Economy in the Twentieth ...
Show comments. The lessons of the generation that weathered the Great Depression include self-sufficiency, frugality, and improvisation. See how to tap those notions today.
Wall Street Crash of 1929. The Wall Street crash of 1929, also known as the Great Crash or Crash of '29, was a major stock market crash in the United States in late 1929. It began in late October with a sharp decline in share prices on the New York Stock Exchange (NYSE) and ended in mid-November. The crash began a rapid erosion of confidence in ...
The recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States. By the spring of 1937, production, profits, and wages had regained their early 1929 levels. Unemployment remained high, but it was substantially lower than the 25% rate seen in 1933. The American economy took a sharp downturn in ...
ISBN. 978-1-56584-656-2. Hard Times: An Oral History of the Great Depression (original: 1970/ latest edition: 2005) is a telling of the oral history of the Great Depression written by Studs Terkel. It is a firsthand account of people of varying socio-economic status who lived in the United States during the Great Depression.
The initial economic collapse which resulted in the Great Depression can be divided into two parts: 1929 to mid-1931, and then mid-1931 to 1933. The initial decline lasted from mid-1929 to mid-1931. During this time, most people believed that the decline was merely a bad recession, worse than the recessions that occurred in 1923 and 1927, but ...