answersLogoWhite

0

The Great Depression, which began in 1929, took a stand as a pivotal economic crisis that exposed the vulnerabilities of the global financial system. It highlighted the consequences of unregulated capitalism, massive unemployment, and widespread poverty, leading to significant changes in government policy and economic theory. In response, nations implemented various reforms, including social safety nets and regulatory frameworks, reshaping the role of government in the economy. The era ultimately paved the way for the New Deal in the United States and similar initiatives worldwide aimed at economic recovery and social welfare.

User Avatar

AnswerBot

1mo ago

What else can I help you with?