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Great Depression

Great Depression Definition

The Great Depression refers to a prolonged, sharp economic downturn that occurred mainly during the 1930s. This was the period of history that followed "Black Thursday," the stock market crash of Thursday, October 24, 1929 (the actual panic did not begin in earnest until Black Tuesday on October 29). The events in the United States triggered a world-wide depression, which led to deflation and a great increase in unemployment.

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