The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across the world; in most countries, it started in 1929 and lasted until the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century.The Great Depression is commonly used as an example of how intensely the global economy can decline.

The Great Depression started in the United States after a major fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929, (known as Black Tuesday). Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession.Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II.

The Great Depression had devastating effects in both rich and poor countries. Personal income, tax revenue, profits and prices dropped, while international trade fell by more than 50%. Unemployment in the U.S. rose to 23% and in some countries rose as high as 33%.

Cities around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming communities and rural areas suffered as crop prices fell by about 60%.Facing plummeting demand with few alternative sources of jobs, areas dependent on primary sector industries such a mining and logging suffered the most.[

The Great Depression of 1929 was a severe worldwide economic depression that lasted from 1929 to the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century. The depression originated in the United States after the stock market crash on October 29, 1929, known as Black Tuesday.

The crash of the stock market occurred due to an unsustainable boom in stock prices, which led to panic selling as investors began to realize the overvaluation of stocks. This sudden collapse in stock prices wiped out billions of dollars in wealth and caused a domino effect on the economy.

The Great Depression had a profound impact on various aspects of society. Unemployment rates skyrocketed, reaching approximately 25% in the United States, leaving millions of people without jobs. The collapse of businesses and financial institutions led to widespread poverty and homelessness.

The depression also had a significant global impact as international trade and investment declined sharply. Countries around the world experienced a decline in production, a decrease in living standards, and a rise in social unrest. Governments implemented protectionist measures, such as imposing tariffs and trade restrictions, further worsening the economic situation.

Efforts to combat the Great Depression included various economic policies and programs. In the United States, President Franklin D. Roosevelt implemented the New Deal, a series of economic reforms and public works projects aimed at stimulating the economy and providing relief to those affected by the depression.

The Great Depression finally came to an end with the onset of World War II, as increased government spending for military purposes helped revive the economy. However, the effects of the depression were long-lasting, with many people experiencing lasting economic and psychological scars.

Overall, the Great Depression of 1929 was a devastating economic crisis that had far-reaching consequences on a global scale. It reshaped the economic and political landscape of the 20th century and served as a catalyst for significant changes in economic policy and regulation.