Great Depression

The Great Depression was a severe global economic downturn that lasted from 1929 to 1939, affecting many countries worldwide. It began with a sharp decline in stock prices in the United States, leading to a prolonged period of economic hardship characterized by high unemployment rates and widespread business failures. The global economy contracted by an estimated 15% between 1929 and 1932, with some economies starting to recover by the mid-1930s. The devastating effects of the Great Depression were seen in both rich and poor countries, with falling personal income, prices, tax revenues, and profits, and international trade fell by more than 50%.learn more on wikipedia