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  • The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.
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  • Introduction. The Great Depression, one of the most devastating economic crises in modern history, left an indelible mark on the world.
  • Detailed explanation-2: -The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939.
  • The common view among economic historians is that the Great Depression ended with the advent of World War II.
  • Thus, in this guide, we will examine the Great Depression, how it came about, its effects on the United States economy as well as the eventual path to recovery.
  • Table of Contents. What Caused the Great Depression? Stock Market Crash of 1929. Bank Runs and the Hoover Administration.
  • The Great Depression, which began in the United States in 1929 and spread worldwide, was the longest and most severe economic downturn in modern history.
  • Image shows a graph of the Great Depression of 1929 with the index of the New York Stock Prices on the Y axis and the year on the x axis.
  • The Great Depression was a devastating and prolonged economic recession that followed the crash of the United States stock market in 1929.
  • Classical economists learned a different lesson. In their view, the Great Depression consisted of four consecutive depressions rolled into one.
  • In an attempt to end the Great Depression, the U.S. government took unprecedented direct action to help stimulate the economy.