Depression Era

The Great Depression was a severe worldwide economic downturn that began with the stock market crash in 1929 and lasted through the 1930s. It caused massive unemployment, widespread poverty, and bank failures, as businesses closed and people lost savings. Many families struggled to meet basic needs, and economic activity slowed dramatically. Governments around the world implemented various policies to recover, and the era deeply affected society, influencing social policies and economic thought. It remains a significant period in history for understanding economic vulnerabilities and the importance of financial stability.