One of the most cited events in economic history, the Great Depression is an important example of just how far and fast a national or global economy can decline. Indeed, by the end of 1932, the USA was in the greatest economic depression in its history.
While there is no single agreed cause, the overall consensus among economists and historians is that the 1929 stock market crash, subsequent bank failures and decreases in demand all led to such decline. It is also important to consider the USA post-war policy with Europe.
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