Great Depression allowed the ultranationalists to assume a dominant position in japan.
It began following the October 1929 stock market crash, which sent Wall Street into a panic and wiped out millions of investors. Consumer spending and investment fell over the next several years, resulting in sharp drops in industrial output and employment as failing companies laid off workers.
The Great Depression, according to Bernanke and other economic historians, was a disaster because of its length, depth, and consequences. The Great Depression lasted a decade, beginning in 1929 and ending in 1942. Industrial output has plummeted. Unemployment has skyrocketed. Global GDP decline: -26.7%
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