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This downward trend of business closures leading to more unemployment was part of the economic depression. Because it affected millions of people, it became known as the Great Depression.
12 cze 2024 · The Great Depression of 1929 devastated the U.S. economy. A third of all banks failed. Unemployment rose to 25%, and homelessness increased. Housing prices plummeted, international trade collapsed, and deflation soared. It took 25 years for the stock market to recover.
23 paź 2024 · 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.
23 paź 2024 · The most devastating impact of the Great Depression was human suffering. In a short period of time, world output and standards of living dropped precipitously. As much as one-fourth of the labor force in industrialized countries was unable to find work in the early 1930s.
List of some of the causes and effects of the Great Depression. Although it originated in the United States, the Great Depression caused drastic declines in output, severe unemployment, and acute deflation in almost every country of the world. Its social and cultural effects were no less staggering.
29 paź 2009 · The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. At its peak, the U.S. unemployment rate topped 20 percent.
13 lip 2024 · The Great Depression was a devastating and prolonged economic depression that followed the crash of the U.S. stock market in 1929. It ended with the Second World War.
