The Great Depression: A Global Economic Crisis

The Great Depression was a severe worldwide economic depression during the 1930s. The timing of the

Great Depression varied across nations; in most countries it started in 1929 and lasted until

the late 1930s. It was the longest, deepest, and most widespread depression of the

20th century. In the 21st century, the Great Depression is commonly used as an example of

how far the world’s economy can decline. The depression originated in the United States after a major fall

in stock prices that began around September 4, 1929, and became worldwide

news with the stock market crash of October 29, 1929 (known as Black Tuesday).

Between 1929 and 1932, worldwide GDP fell by an estimated 15%.