Great depression

Definition

The worst economic downturn in modern history, lasting from 1929 to the late 1930s, triggered by the stock market crash of October 1929. It caused massive unemployment (peaking near 25% in the U.S.), bank failures, and widespread poverty, leading to major government interventions like the New Deal.

Examples

  • The stock market crash on Black Tuesday, October 29, 1929
  • FDR's New Deal programs like the CCC, WPA, and Social Security
  • The Dust Bowl worsening agricultural devastation in the Great Plains
Key Fact

U.S. unemployment peaked at approximately 25% in 1933.

Related Terms

Fiscal and monetary policy Wwii Progressivism Federal reserve

Study This Concept

Practice Great Depression with free review games in these units:

AP US History Unit 7: 1890-1945: World Wars Era