THE DEPRESSION

An economic depression is a period of falling prices, low production of goods, and high unemployment. The Great Depression of 1929–1934 caused hardship in the United States, in the countries of Europe, and in their overseas empires. Banks closed and firms went out of business.

WHAT WAS THE WALL STREET CRASH?

In 1929, US investors found that their shares of stock had become worthless. All trading ceased on Wall Street, New York City’s financial district, as the New York Stock Exchange crashed. Fortunes were lost overnight and factories laid off workers.

HOW WIDESPREAD WAS THE DEPRESSION?

The 1920s and 1930s were already desperate times in Australia and New Zealand, in Great Britain, and across Europe. When an Austrian bank collapsed, chaos spread to central Europe. Germany was struggling, too, as it tried to recover from World War I and pay money to France as reparation for the war.

FIND OUT MORE

Economy
The State

Copyright © 2007 Dorling Kindersley

highlights

6 Questions to Ask Before Getting Your Child a Cell Phone
At what age should you get your child a cell phone? Before you decide to add your child to your family plan, ask yourself these questions.

Find Today's Newest & Best Children's Books!
Looking for newly released books for your child? Try our new Book Finder tool to search for new books by age, type, and theme, brought to you by Galactic Hot Dogs.

10 Great Mother's Day Gifts for Grandma
Looking for a special Mother's Day gift for Grandma? Bring a smile to her face with one of these thoughtful and creative gift ideas!

Registered for Kindergarten — Now What?
Wondering what to do now that you've signed your child up for kindergarten? Try our award-winning Kindergarten Readiness app! This easy-to-use checklist comes with games and activities to help your child build essential skills for kindergarten. Download the Kindergarten Readiness app today!

stay connected

Sign up for our free email newsletters and receive the latest advice and information on all things parenting.

Enter your email address to sign up or manage your account.

Facebook icon Facebook icon Follow Us on Pinterest

editor’s picks