Great Depression

The Great Depression was a period of severe economic hardship that began in 1929 and lasted for most of the 1930s. Although it is most strongly associated with North America, the Great Depression affected many countries worldwide. It began with the 1929 crash of the American stock market and ended with the onset of World War II (1939–1945). During the Great Depression, the United States suffered from high unemployment rates and widespread poverty. Thousands of banks closed, and many people lost their life savings. Severe droughts also affected North American food production, further adding to the crisis. In 1933, newly elected US president Franklin D. Roosevelt (1882–1945) implemented the New Deal, which was a package of social and economic reforms...

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