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Great Depression - Encyclopedia Britannica The Great Depression was a 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
Great Depression - Wikipedia The Great Depression was a severe global economic downturn from 1929 to 1939 The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world
The Great Depression - Federal Reserve History 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
The Great Depression and the First New Deal, 1929-1935 The worldwide, decade-long Great Depression struck the United States like a biblical plague, shuttering factories, closing banks, foreclosing on farms, and putting as many as one out of three workers on the street
Great Depression: Black Thursday, Facts Effects - HISTORY The causes of the Great Depression included slowing consumer demand, mounting consumer debt, decreased industrial production and the rapid and reckless expansion of the U S stock market
The Great Depression Explained - economyinsights. com During this time industrial output and prices collapsed, unemployment soared, and poverty spread worldwide For example, between 1929 and 1933 U S industrial production fell nearly 47%, GDP fell 30%, and one-quarter of workers were jobless
The Great Depression [ushistory. org] The unprecedented prosperity of the 1920s was suddenly gone, the Great Depression was upon the nation, and breadlines became a common sight There were fundamental structural weaknesses in the American economic system Banks operated without guarantees to their customers, creating a climate of panic when times got tough
The Great Depression: Overview, Causes, and Effects Presidents Hoover and Roosevelt both tried to mitigate the impact of the Depression with government policies It's hard to pinpoint exactly what caused the Great Depression, but economists
Putting It Together: The Great Depression | United States History II As President Hoover took office, optimistic about America’s future, he upheld his political beliefs and proceeded to create reforms and legislation that reflected his outlook The Federal Farm Board was one of the programs created during his first months in office