How did the Great Depression begin?
The Great Depression is associated with the 1929 stock-market crash but encompassed a wider banking and production crisis.
Historical context and developments
Debt, fragile banks, falling demand and international monetary problems reinforced each other. Unemployment and income loss differed across countries. The market crash alone did not cause the entire depression.
Consequences and interpreting sources
Government responses, trade policy and social support changed. Recovery cannot be credited to one decision, nor can every country’s experience be reduced to the US case.
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