What was the global depression?

Answer 1

The global depression, often referred to as the Great Depression, was a severe worldwide economic downturn that began in 1929 and lasted throughout the 1930s. It was triggered by the Stock Market crash in the United States in October 1929, leading to widespread bank failures, massive unemployment, and a significant decline in industrial production and international trade. The depression had far-reaching social and political effects, contributing to the rise of extremist movements and significant changes in government policies worldwide. Its impact was felt globally, affecting economies and societies across Europe, Asia, and beyond.