Question

The Great Depression began when the US Stock Market crashed in 1929. The effect of the crash was felt around the world but affected different countries in different ways. How was the effect on Germany different from the effect on the United States? How did the Great Depression contribute to Hitler’s rise to power? Do you know of any other economic crises since the Great Depression? What was the main reason for that crisis?

Answer 1

Answer:

"The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers. By 1933, when the Great Depression reached its lowest point, some 15 million Americans were unemployed and nearly half the country’s banks had failed." (History.com)

Explanation: