Summary

The Great Depression was a severe worldwide economic depression that lasted from 1929 to the late 1930s. It is considered to be the longest, deepest, and most widespread depression of the 20th century.

The Great Depression originated in the United States and quickly spread to other parts of the world, causing mass unemployment, widespread poverty, and significant economic disruption.

The causes of the Great Depression are complex and include a combination of factors such as :

• the stock market crash of 1929,
• bank failures,
• agricultural overproduction,
• trade barriers.

The Great Depression had a profound impact on the world economy, leading to significant changes in economic policy and the regulation of financial markets.

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The Great Depression brought about large social change from a time of high unemployment and poverty. One of the largest movements in response to the Great Depression was the United States Government’s “New Deal,” enacted by President Franklin D. Roosevelt between 1933 and 1939. The New Deal brought about many large Federal Agencies such as the Civilian Conservation Corps, CCC, the Works Progress Administration, the Public Works Administration and the National Youth Administration.

Vocabulary

• Black Thursday
• Economic Crisis
• Recession
• New Deal