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23 Οκτ 2024 · 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.
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 not as bad as the Depression of 1920-21.
Unemployed people lined up outside a soup kitchen opened in Chicago by Al Capone during the Great Depression. The Great Depression was a period of severe global economic downturn that occurred from 1929 to 1939.
29 Οκτ 2009 · 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.
7 Απρ 2022 · How did the Great Depression end? World War II brought the boom needed to fully break the U.S. out of the Depression. As the U.S. mobilized the economy for the war effort, it raised production levels, lowered unemployment, and ultimately ended the Depression.
Timeline of important events pertaining to the Great Depression, when much of the world faced harsh economic conditions. Many people were out of work, hungry, or homeless. The Great Depression started in the United States, but it quickly spread throughout the world.
Explore how the Great Depression of the 1930s forced America to consider having a social safety net, leading President FDR to sign the Social Security Act into law via his New Deal programs.
