1930s Great Depression

The Great Depression was a severe worldwide economic downturn that began in 1929 and lasted throughout the 1930s. It started after the stock market crash in October 1929, leading to widespread bank failures, high unemployment, and significant drops in industrial output. Many businesses closed, and countless people lost their jobs and savings. Governments struggled to respond effectively, which exacerbated the crisis. The Great Depression changed economies and societies, prompting reforms and policies to prevent similar catastrophes, including the New Deal in the United States, which aimed to stimulate recovery and support those in need.