1. The Long Reaches of the Great Depression
The Great Depression began in 1929, when the stock market in the United States dropped rapidly. ... An example is the Federal Reserve's failure to act as a lender of last resort during the banking panics that began in the fall of 1930 and ended with the banking holiday in the winter of 1933, this led to millions of investors to go bankrupt and force themselves into poverty and famine in some cases. ... Although it originated in the United States, the Great Depression caused drastic declines in production, severe unemployment, and heightened deflation in almost every country of the world. ...
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- Approx Pages: 3
- Grade Level: Undergraduate