The Great Depression

The Great Depression was a severe economic downturn that began in the United States in 1929 and lasted throughout the 1930s. It started with the stock market crash of October 1929, leading to widespread bank failures, business closures, and soaring unemployment. Many people lost their savings, homes, and livelihoods. The crisis affected global economies and prompted government intervention, including Franklin D. Roosevelt's New Deal, which aimed to provide relief, recovery, and reform. The Great Depression transformed American society and economics, shaping policies that still influence the country today.