Great Depression and Economic Downturns
Good times and bad are both normal elements in an economy. There have been significant periods of prosperity as well as difficult times. Periods of economic depression were not uncommon in the early part of United States history. The Great Depression of 1929 was unique for several reasons. The first would be how long it lasted. It started in … Keep Reading → 1929, and by some estimates lasted past 1940. The crashing of the stock market in 1929 is the symbolic, if not the actual, beginning of the Great Depression. Another element that stood out about this depression is how widespread it was. The entire world was impacted. Millions of people were unemployed and the economies of countries all over the world, virtually stopped. There is disagreement as to why this depression was so extreme. Some blame market conditions and others blame governmental policy. No one disagrees that it was the worst economic time in history.
