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Great Depression

✨ 1929–1939, Global

The Great Depression was a severe worldwide economic crisis that began in 1929 and affected many countries throughout the 1930s. Its most dramatic early turning point came with the Wall Street Crash in October 1929, when share prices in the United States fell sharply after years of rapid speculation and credit expansion. The crash did not by itself cause the entire Depression, but it contributed to a broader collapse in investment, production, and confidence.

Many banks failed, businesses reduced activity, and unemployment rose sharply. The crisis spread internationally through trade and financial links, although its timing and intensity differed from one country to another. In the United States, industrial production and incomes fell substantially, while millions of people lost their jobs and homes. Governments responded in different ways. In the United States, President Franklin D.

Roosevelt introduced the New Deal after taking office in 1933. It included banking reforms, public works, social programs, and measures intended to support employment and economic recovery. Other countries adopted their own policies, while many also raised trade barriers, which contributed to a decline in international trade.

The Depression gradually eased at different times depending on the country, and economic recovery was influenced by several factors, including government intervention, monetary changes, and later increased military spending. The crisis had lasting consequences: it changed economic policies, strengthened demands for social protection, and contributed to political instability in several countries. It also encouraged governments to take a more active role in managing national economies.

💡 Did you know?

The stock market crash. Did you know that it all started with a panic on the New York Stock Exchange? In a single day, people lost everything because the value of their shares collapsed. It's as if, suddenly, almost all the piggy banks in the world had emptied at the same time!

Games to escape. It was during this crisis that the game 'Monopoly' became super popular. Since people had no more real money, they loved playing with fake notes and imagining becoming rich by buying streets. It was their way of dreaming a little!

Survival gardens. To avoid going hungry, many families transformed their garden or even a corner of their balcony into mini-vegetable patches. Neighbors helped each other a lot: if one had too many carrots, they exchanged them for the other's potatoes!