Great Depression

Great Depression From Wikipedia, the free encyclopedia {draw:frame} Dorothea Lange's Migrant Mother depicts destitute pea pickers in California, centering on Florence Owens Thompson, age 32, a mother of seven children, in Nipomo, California, March 1936. The Great Depression was a severe worldwide economic depression) in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s.[1] It was the longest, most widespread, and deepest depression of the 20th century, and is used in the 21st century as an example of how far the world's economy can decline.[2] The depression originated in the United States, starting with the stock market crash of October 29, 1929 (known as Black Tuesday), but quickly spread to almost every country in the world.[1] Countries started to recover by the mid-1930s, but in many countries the negative effects of the Great Depression lasted until the start of World War II.[8] {draw:frame} USA annual real GDP from 1910–60, with the years of the Great Depression (1929–1939) highlighted. {draw:frame} Unemployment rate in the US 1910–1960, with the years of the Great Depression (1929–1939) highlighted. Start of the Great Depression {draw:frame} US industrial production (1928–39). {draw:frame} US Farm Prices, (1928–35). See also: Timeline of the Great Depression Historians most often attribute the start of the Great Depression to the sudden and total collapse of US stock market prices on October 29th, 1929, known as Black Tuesday.[1] However, some dispute this conclusion, and see the stock crash as a symptom, rather than a cause of the Great Depression.[9][3] Even after the Wall Street Crash of 1929, optimism persisted for some time; John D. Rockefeller said that "These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has