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The Great Depression of 1929


The Great Depression of 1929

  • Definition: A severe worldwide economic downturn that began in 1929 and lasted for about a decade.

  • Causes:

    • Stock market crash of October 1929, known as Black Tuesday.

    • Bank failures leading to loss of savings.

    • Reduction in consumer spending and investment.

    • Drought conditions exacerbating agricultural decline (Dust Bowl).

  • Effects:

    • Unemployment rates soared, reaching about 25% in the U.S.

    • Widespread poverty and homelessness.

    • Significant drop in industrial production.

    • Global trade declined significantly.

  • Government Response:

    • Introduction of New Deal policies by President Franklin D. Roosevelt in the 1930s aimed at economic recovery.

  • Lasting Impact: Shifted government’s role in economic intervention and welfare.


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The Great Depression of 1929

The Great Depression of 1929

  • Definition: A severe worldwide economic downturn that began in 1929 and lasted for about a decade.

  • Causes:

    • Stock market crash of October 1929, known as Black Tuesday.

    • Bank failures leading to loss of savings.

    • Reduction in consumer spending and investment.

    • Drought conditions exacerbating agricultural decline (Dust Bowl).

  • Effects:

    • Unemployment rates soared, reaching about 25% in the U.S.

    • Widespread poverty and homelessness.

    • Significant drop in industrial production.

    • Global trade declined significantly.

  • Government Response:

    • Introduction of New Deal policies by President Franklin D. Roosevelt in the 1930s aimed at economic recovery.

  • Lasting Impact: Shifted government’s role in economic intervention and welfare.