The Great Depression Explained

The Great Depression Explained

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In this video, we delve into the Great Depression, an economic depression that rocked the world from 1929 to the late 1930s. The stock market crash of 1929 led to widespread poverty and unemployment, causing social unrest and political instability. Many people were forced to live in Hoovervilles, makeshift communities built out of necessity. The Dust Bowl, a period of severe dust storms and soil erosion in the Great Plains, worsened the situation for farmers and agricultural prices. The New Deal, a series of economic policies and programs implemented by President Franklin D. Roosevelt, aimed to provide relief and recovery to those affected by the Depression. However, the road to recovery was long and difficult, and many businesses went bankrupt due to deflation and decreased industrial production. Fiscal policies were introduced to stimulate the economy, but it took until the 1940s and World War II for the US and other countries to fully recover from the Great Depression.

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