More info on Wikipedia
Quick Facts
- Stock market crash of October 29, 1929 is called Black Tuesday.
- End of the depression is associated with the WWII war economy.
- In the United States 50% of blacks were unemployed.
- German industrial production declined more than 30%.
- Resulted in the total collapse of the gold standard.
Expert summary
The Great Depression refers to the longest and most severe depression ever experienced by the industrialized Western world. The depression began with the US stock market collapse of 1929 and lasted until the late 30s and early 40s. The root of the collapse came from a highly unregulated US economy full of irresponsible investing within a bubble economy. Another factor was the wealth distribution gap in which 0.1 percent of society earned the same total income as 42 percent of the population. The US collapse quickly spread to the many European countries still in debt to the US from World War I. The depression resulted in a shift towards more government regulation of markets along with many public works projects.
Recommended content by 4 experts
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UIUC Article on Depression
Really useful article about the Great Depression from the University of Illinois at Urbana-Champaign. -
Great Depression Era Photos
An amazing collection of photographs from the era of the great depression. -
The Great Depression
Excellent discussion of the Great Depression on the Eleanor Roosevelt National Historic Site.
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Great Depression: Short Introduction
A very short introduction to the Great Depression. Check it out if you don't have much time and want to know the basics. -
Great Depression Photos
Some great photos from the Great Depression era. A difficult time for a lot of people. -
Milton Friedman on the Great Depression
Milton Friedman talks about the Great Depression and some of the reasons for it. Very informative.
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Free Coffee and Donuts
This photograph shows a line of men outside a business that is offering free coffee and donuts to the unemployed. -
No Jobs Available
A sign telling men to keep walking, there are no jobs available. A common occurrence during the Great Depression. -
Homeless Kids
Parents great depression to see their kids without a home and just stay along the streets in every weather conditions.
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Rethinking the Great Depression
Rethinking the Great Depression by Gene Smiley is a good book about the Great Depression. -
The Forgotten Man
The Forgotten Man by Amity Schlaes is a great book on the Great Depression. Buy it and read it. -
The Great Crash of 1929
A book about the Great Crash of 1929. One of the main precursors to the Great Depression.
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