Answer:
The Great Depression was the severe collapse of entire national economies in all major industrialized countries that began in 1929, and was manifested, among other things, by the collapse of a number of economic entities, massive unemployment and deflation. The simultaneity of the crisis in various areas of the national economy was enhanced by the growing intertwining of individual parts of the economy as well as the economies of different countries and the interconnectedness of financial flows and increased mobility of capital, but also the lack of certain elements of market regulation.
Initially, a slight decline in the growth of the U.S. economy led to a speculative overvaluation of the stock and other securities market in October 1929 to collapse. This led to a reversal of capital flows. Capital, which had been invested in other national economies in previous years, was quickly withdrawn. In Europe (but also in other countries of the world), this withdrawal of capital has caused the most severe forms of crisis in their already weak economies. Throughout the chain of events, there has been massive unemployment and a huge drop in international trade.
