Knowra Great Depression Great Depression The Great Depression was a worldwide economic crisis beginning in 1929, marked by collapsing production, widespread unemployment, and prolonged financial hardship.
Wall Street Crash of 1929 : A sharp collapse in U.S. stock prices in October 1929 that intensified financial panic. The crash became the crisis’s defining opening event, though it did not alone cause the worldwide depression.
Stock market speculation : The purchase of securities in expectation of price gains, often involving substantial risk or borrowed money. Leveraged speculation helped make the late-1920s stock boom vulnerable to panic.
Franklin D. Roosevelt : The 32nd president of the United States, who took office in 1933 and led the New Deal. His administration’s programs reshaped U.S. relief, regulation, and economic policy.
New Deal : A set of U.S. programs and reforms introduced under Franklin D. Roosevelt beginning in 1933. It was the principal U.S. federal response to unemployment, bank failures, and economic hardship.
Great Depression in the United States : The U.S. experience of the worldwide economic crisis, including mass unemployment and New Deal reforms. It offers the best-known national case, but not the full global story.
Bank run : A rapid withdrawal of deposits by many customers who fear a bank cannot repay them. Runs helped turn financial panic into widespread bank failures and lost savings.
Buying on margin : Purchasing securities with borrowed funds, using the securities as collateral. Margin debt forced investors to sell as prices fell, intensifying the stock-market collapse.
Herbert Hoover : The 31st president of the United States, in office from 1929 to 1933. His response to the crisis remains central to debates over early federal relief and intervention.
Social Security Act : A 1935 U.S. law establishing federal old-age benefits and support for unemployment compensation and needy families. It created enduring social insurance programs amid Depression-era insecurity.
Great Depression in Germany : Germany’s severe economic contraction after 1929, marked by mass unemployment and political instability. Germany’s crisis unfolded amid reparations, financial dependence, and the collapse of the Weimar Republic.
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