Great depression, worldwide economic downturn that began in 1929 and lasted until about 1939 it was the longest and most severe depression ever experienced by the industrialized western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory although. The great depression of the 1930s was a global event that derived in part from events in the united states and us financial policies as it lingered. The great depression was an economic slump in north america, europe many other countries had been affected by the slump by 1931.
The great depression severely affected every segment of the economy it also created programs that prevented depressions from reoccurring.
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The great depression caused many people to lose their sources of income and become impoverished birth rates dropped because people could not afford to care for children, and divorce rates dropped because people could not afford legal fees many couples postponed weddings due to a lack of finances. The great depression lasted from 1929 to 1939 and was the worst economic depression in the history of the united states economists and historians point to the stock market crash of october 24, 1929, as the start of the downturn but the truth is that many things caused the great depression, not.
The great depression was a severe worldwide economic its economy was not tied to the rest of the world and was only slightly affected by the great depression.