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Great Depression, name given to the profound global economic crisis that lasted from 1929 to 1939.
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Great Depression, name given to the profound global economic crisis that lasted from 1929 to 1939. At first each country coined its own title for the economic collapse, although every country in the world was affected by a crisis that also had serious consequences for social and political life. In Britain it was called "The Slump" and in Germany "Die Krise" (The Crisis). In time, however, the American term "The Great Depression", which in Britain was reserved for the period 1873 to 1896, has come to dominate. The collapse of the American stock market on Wall Street in October 1929 is usually taken to mark the onset of the economic collapse. The world economy had already begun to turn downward in 1928, with demand for both agricultural and industrial goods, as well as for construction work, beginning to decline. Indeed, these trends were evident in the United States and helped to...
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