Explore the devastating effects of the Great Depression on economies worldwide. Discover its causes, impacts, and lessons learned. #GreatDepression #EconomicHistory #FinancialCrisis #globaleconomy
The Great Depression, which began in 1929, marked one of the most severe economic downturns in history. Triggered by the stock market crash in October, it led to widespread unemployment and poverty, impacting millions globally. Banks failed, businesses closed, and international trade plummeted. Governments struggled to find solutions, implementing various economic policies. The crisis led to the rise of protectionism, further crippling global trade. In the United States, President Franklin D. Roosevelt introduced the New Deal, a series of programs aimed at recovery. Despite efforts, it took years for economies to stabilize, reshaping financial regulations and leading to significant social change. The lessons from this period remain relevant today.
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