Great Depression

📖Story Brief #467

The Great Depression was a severe economic downturn that began in 1929 and lasted for about a decade.

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The Great Depression was a severe economic downturn that began in 1929 and lasted for about a decade. It started with the stock market crash in October 1929, when millions of people lost their savings overnight as stock prices plummeted. As a result, banks failed, businesses closed, and unemployment soared to around 25%. Families struggled to buy food and pay rent, leading to widespread poverty. A famous example of this hardship was the Dust Bowl, where severe droughts in the Midwest destroyed crops, leaving many farmers without income. The government responded with programs like the New Deal, which aimed to provide jobs and support for those affected. This period taught the nation about the importance of economic stability and the role of government in protecting citizens during hard times.

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What event is commonly considered the start of the Great Depression?

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