How did the Great Depression affect global economies?

How did the Great Depression affect global economies?

The Great Depression led to massive unemployment, reduced trade, and economic instability worldwide. Countries struggled to recover.

What were some specific countries that were heavily impacted?

The United States, Germany, and the United Kingdom were among the hardest hit, facing severe economic downturns and social unrest.

Did any countries recover faster than others?

Yes, countries like the United States implemented New Deal policies that helped stimulate recovery, while others took longer.

How did this event shape modern economic policies?

The Great Depression led to the establishment of social safety nets and regulatory frameworks to prevent future economic crises.

Can you explain the role of the stock market crash in this event?

The stock market crash of 1929 triggered the Great Depression by eroding consumer confidence and leading to widespread bank failures.