Main Effects Of The Great Depression Late 1920s And 1930s

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Main Effects of the Great Depression

The Great Depression of the late 1920s and 1930s remains the longest and most severe economic downturn in modern history. This was a time of economic hardship, high unemployment, and financial insecurity. The Great Depression caused the Stock Market crash, farmers losing animals and land, and other countries to be affected.

The stock market crash of 1929 was a great factor in the Great Depression. The stock prices were so high that investors made risky investments in stocks with borrowed money. This led to most banks failing, and unemployment reaching more than 20 percent. “By 1933 one-fifth of the banks in existence in 1930 had failed” (Duignan). The stock market was a big problem in the Great Depression.

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