The Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across the world; in most countries, it started in 1929 and lasted until the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century.

Causes of the Great Depression

Several factors contributed to the Great Depression, including stock market crash, bank failures, reduction in purchasing across the board, American economic policy with Europe, and drought conditions.

Impact of the Great Depression

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

Study Guide

1. What was the timing of the Great Depression in most countries?
2. What were the causes of the Great Depression?
3. What were the impacts of the Great Depression?
4. How did the Great Depression affect international trade?
5. What was the unemployment rate in the U.S. during the Great Depression?

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