Great Depression

Definition

The Great Depression was a severe worldwide economic depression that took place during the 1930s. It began in the United States after a major fall in stock prices around September 29, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday).

Related terms

Stock Market Crash of 1929: This event marked the beginning of the Great Depression as millions of shares became worthless, and investors lost billions of dollars.

New Deal: A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in response to combat the effects of the Great Depression.

Dust Bowl: A period of severe dust storms causing major ecological and agricultural damage to American prairie lands during the 1930s; exacerbated by drought conditions but primarily caused by years of poor farming practices.