Great Depression (oct 24, 1929 – dec 7, 1941)
Description:
The Great Depression occurred as a result of income inequality and overspeculation in the US. The effects of the depression spread across the globe as American banks recalled loans that they made to European businesses. The depression resulted in mass unemployment as a decline in production. Governments instituted social welfare programs, such as the New Deal in the US, to help their citizens, with only partial success. People were desperate, so they turned to extreme groups such as communists and fascists, which led to WWII.Added to timeline:
Date:
oct 24, 1929
dec 7, 1941
~ 12 years