This was followed by a deflation in asset and commodityprices, dramatic drops in demand and credit, and disrupti… There was an initial stock market crash that triggered a "panic sell-off" of assets. As such, there is no agreed upon list of all its causes. The Great Depression of 1929 was a 10-year global economic crisis. A great boom resulted, followed soon after by a painful day of reckoning. The Great Depression also played a role in the emergence of Adolf Hitler as a viable political leader in Germany. 5 Causes of The Great Depression What caused the Great Depression, the worst economic depression in US history? Deteriorating economic conditions in Germany in the 1930s created an angry, frightened, and financially struggling populace open to more extreme political systems, including fascism and communism. Economists and historians point to the stock market crash of October 24, 1929, as the start of the downturn. By comparison, during the Great Recession of 2007–09, the second largest economic downturn in U.S. history, GDP declined by 4.3 percent, and unemployment reached slightly less than 10 percent. The causes of the Great Depression in the early 20th century have been extensively discussed by economists and remain a matter of active debate. It was not just one factor, but instead a combination of domestic and worldwide conditions that led to the Great Depression. Learn about the Dust Bowl, New Deal, causes of the Great Depression, a Great Depression timeline more. The Great Depression lasted for a dozen years because the government compounded its monetary errors with a series of harmful interventions. There is no consensus among economists and historians regarding the exact causes of the Great Depression. They are part of the larger debate about economic crises and recessions. None of America’s depressions prior to 1929, however, lasted more than four years and most of them were over in two. The Great Depression had many causes — beyond the 1929 stock market crash that trigged it — which exposed weaknesses in the US economy and society. The specific economic events that took place during the Great Depression are well established. The Great Depression lasted from 1929 to 1939 and was the worst economic depression in the history of the United States. The Great Depression was the worst economic downturn in world history. But the truth is that many things caused the Great Depression, not just one single event. Here are causes, impact, and chances of recurrence.
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