The Great Depression : The Greatest Depression

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The Great Depression was one of the lowest points ever seen in history that began in 1929 and lasted until 1939. It can be defined as an economic slump in North America and Europe, along with other industrialized areas of the world. The Great Depression was the longest, most severe depression ever seen, and experienced by the newly, industrialized Western world. Although there are pros and cons, as it brought in deep social and personal problems as well as a new introduction to thought and culture. Today, economists still argue on what really caused The Great Depression. Today, still there is a minimum understanding on what caused the Great Depression, although there are many theories. In the Unites States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into great panic and wiped out millions of investors. Also many banks failed and went bankrupt, others were forced out of business when depositors began to panic and withdraw money. Furthermore, these failures and panics almost completely shut down the entire country’s banking system. In 1929, there was an increase in the amount of poor people, which led manufacturers to lay off thousands of people, thus creating a greater amount of poor people. The industrialized world was still new, and not everyone knew how to handle it. For instance, farms began to fail because they were producing too much for such a low price; and eventually due to nature these farms began to dry
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