Great Depression

The Great Depression was a severe downfall in the economy of the United States, beginning in 1929, and lasting until World War II. The menace of the Great Depression initially caught the economies of the United States and the European countries, and later its effects were felt across the globe. The time of economic depression varies from one country to the other, but it proved to be the greatest economic crisis of the 20th century. The crash of the U.S. stock market on Tuesday, October 29, 1929, also known as Black Tuesday, marked the beginning of the Great Depression.

For some scholars, this fall in the stock market is taken as an effect, rather than the cause of the Great Depression. After this event, stock market ...