What were the main causes of the Great Depression?

What were the main causes of the Great Depression?

The Great Depression was caused by a combination of factors, including the stock market crash of 1929, bank failures, and reduced consumer spending.

How did the stock market crash contribute to the Great Depression?

The stock market crash led to a loss of wealth and confidence, causing people to cut back on spending and investment, which worsened the economic downturn.

Were there any government policies that made the situation worse?

Yes, some policies, like the Smoot-Hawley Tariff, raised tariffs on imports, leading to a decline in international trade and worsening the depression.

What role did the banking system play in the Great Depression?

The banking system faced massive failures, with many banks collapsing, which led to a loss of savings for individuals and further reduced consumer confidence.

How long did the Great Depression last?

The Great Depression lasted from 1929 until the late 1930s, with varying degrees of economic recovery throughout that period.