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The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. At its peak, the U.S. unemployment rate topped 20 percent.
Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.
Overall, the Great Depression had a tremendous impact on nine principal areas of the U.S. economy, which are outlined below. Economy and Gross Domestic Product (GDP) During the first five years of the depression, the economy shrank by 50%.
List of some of the causes and effects of the Great Depression. Although it originated in the United States, the Great Depression caused drastic declines in output, severe unemployment, and acute deflation in almost every country of the world. Its social and cultural effects were no less staggering.
The Great Depression was a devastating and prolonged economic depression that followed the crash of the U.S. stock market in 1929. It ended with the Second World War.
Unemployed people lined up outside a soup kitchen opened in Chicago by Al Capone during the Great Depression in February 1931. The Great Depression was a period of severe global economic downturn that occurred from 1929 to 1939.
What was the Great Depression? What were the causes of the Great Depression? How did the Great Depression affect the American economy? How did the United States and other countries recover from the Great Depression? When did the Great Depression end?
The Great Depression was the worst economic downturn in world history. Learn about the Dust Bowl, New Deal, causes of the Great Depression, a Great Depression timeline more.
Examining the causes of the Great Depression raises multiple issues: what factors set off the first downturn in 1929; what structural weaknesses and specific events turned it into a major depression; how the downturn spread from country to country; and why the economic recovery was so prolonged.
Bernanke, like other economic historians, characterized the Great Depression as a disaster because of its length, depth, and consequences. The Depression lasted a decade, beginning in 1929 and ending during World War II.