Causes of the Great Depression

- The Great Depression began in 1929 primarily due to a combination of factors.
- One of the main causes was the stock market crash on October 29, 1929, known as Black Tuesday.
- This crash led to a significant loss of wealth for many investors and triggered a financial crisis.

Factors contributing to the Great Depression

- Other contributing factors include overproduction, unequal distribution of wealth, and high levels of debt.
- The agricultural sector was also struggling, leading to a decline in farm incomes.
- International trade was disrupted, further worsening the economic situation.

Impact of the Great Depression

- The Great Depression had a profound impact on the global economy, leading to widespread unemployment, poverty, and hardship.
- It also had political consequences, with the rise of extremist political movements in some countries.
- The Great Depression lasted for about a decade and had long-lasting effects on economies around the world.

In conclusion, the Great Depression began in 1929 as a result of various economic factors and the stock market crash. It had a significant impact on the global economy and led to a period of hardship and economic turmoil.