The Great Depression was a severe economic downturn that lasted from 1929 to 1941, profoundly impacting the United States and the world. This period was characterized by widespread unemployment, poverty, and economic instability.
• The causes of the Great Depression were complex and interconnected, including the stock market crash, uneven wealth distribution, and overproduction.
• Effects of the Great Depression included massive unemployment, bank failures, and widespread poverty.
• The crisis ended gradually in the late 1930s and early 1940s, with World War II playing a significant role in economic recovery.
• Understanding this period is crucial for grasping 20th-century history and modern economic policies.