The Great Depression (1 янв 1929 г. – 7 дек 1941 г.)

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Period in which America experience its worst economic crisis in its history. By 1933, 9,000 banks had closed and nearly 25 percent of people were unemployed. The Great Depression only ended with America’s entry into World War 2. The Great Depression shows the downsides to America’s market-based society. Just as there can be massive booms in the market, there can be massive recessions.

Citation: Schultz, Kevin M. HIST5. Boston, MA: Cengage Learning, 2019.

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