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Contributor: Elephango Editors. Lesson ID: 10154
The 1929 stock market crash was just one cause of the Great Depression. Dive into the causes and effects of this challenging time and create projects to explore its impact on the U.S. and beyond!
Imagine you wake up to the sound of your parents arguing about money. The lights flicker because the electricity bill hasn’t been paid. You feel hungry, but there's barely enough food in the pantry to last through the week.
Fear, sadness, desperation—these emotions flooded the hearts of millions during a time in history known as the Great Depression.
The Great Depression, which began in 1929 and lasted for about a decade, was the most devastating economic collapse in modern history.
It wasn’t just a period of economic trouble—it was a time that reshaped the lives of people in America and worldwide.
In the decade leading up to the Great Depression, people lived in what seemed like a golden age. New technologies, like cars and radios, were popping up everywhere. Businesses boomed, and the economy seemed unstoppable.
But underneath the surface, something dangerous was brewing. People were buying things on credit, promising to pay for stuff later, using money they didn’t yet have. This created a false sense of prosperity.
Many also invested in the stock market, hoping to make big profits. But the stock market crashed in 1929, sending shockwaves through the economy.
This event, known as Black Tuesday, wiped out billions of dollars in wealth in a single day. People rushed to the banks to withdraw their savings, only to find the banks were out of money.
The Great Depression hit like a storm. Businesses closed, farms failed, and millions of people lost their jobs. By the time the government stepped in, things had gone from bad to worse.
But during this time of despair, there were signs of hope, too, in the form of the New Deal—a series of programs created by President Franklin D. Roosevelt to help America recover.
Watch the following video to deepen your understanding of the Great Depression.
Head to the Got It? section to continue exploring this dark period in history.
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