Category: Great Depression

Categories: US History | 20th Century


A part of US History


The Great Depression

The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in 1930 and lasted until the late 1930s or middle 1940s. It was the longest, most widespread, and deepest depression of the 20th century.

In the 21st century, the Great Depression is commonly used as an example of how far the world's economy can decline. The depression originated in the U.S., after the fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday).

The Great Depression had devastating effects in countries rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%.

Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by approximately 60%. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as cash cropping, mining and logging suffered the most.

Some economies started to recover by the mid-1930s. In many countries, the negative effects of the Great Depression lasted until the end of World War II. 1

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Person Profiles (11)

26 Dec 1903 Pelahatchi, Rankin , Mississippi, United States - 08 May 1967 photo
02 May 1897 Rankin County, Mississippi, United States - 25 Apr 1967
1910s - 2000s Privacy Level: Private with Public Biography and Family Tree (Yellow) photo
24 May 1905 Turton, Spink County, South Dakota - 12 Jul 1993 photo
21 Jun 1912 Pescadero, San Mateo County, California - 18 Jan 1970
26 May 1895 Hoboken, Hudson, New Jersey, United States - 11 Oct 1965 photo
04 Jan 1915 Lockhart, Caldwell, Texas, USA - 26 Sep 2006 photo
12 Jan 1929 Runge, Karnes, Texas, United States - 23 Aug 1997
03 Jul 1921 Pennant, Riverside No. 168, Saskatchewan, Canada - 21 Apr 2013 photo
04 Sep 1897 Pennsylvania, United States - 04 Dec 1970 photo




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