What was the Great Depression?

Question

I just can’t find a simplified source about it

In: Economics

Answer 1

Basically, it was a severe worldwide economic downturn that lasted from 1929 to the late 1930s. It began with the stock market crash in the United States, which led to a cascade of financial failures. Banks collapsed, businesses closed, and millions of people lost their jobs.

The depression spread globally, causing widespread poverty and hardship.