The Great Depression: Causes and Effects 1929-1939
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The Great Depression, a period of severe economic downturn, lasted from 1929 to 1939. It was the worst economic depression in the history of the United States. While economists and historians often point to the stock market crash of October 24, 1929, as the start of the downturn, the reality is that the Great Depression was caused by a confluence of factors, not just one single event.
In the United States, the Great Depression crippled the presidency of Herbert Hoover and led to the election of Franklin D. Roosevelt in 1932. Promising the nation a "New Deal," Roosevelt would become the nation's longest-serving president. The economic downturn wasn't just confined to the United States; it affected much of the developed world. One consequence... Continue reading "The Great Depression: Causes and Effects 1929-1939" »