Basic Information on the Great Depression
For collecting the most basic information on the Great Depression, you need to know what the term Great Depression means. According to various Great Depression facts, Great Depression was the term coined for the period from 1929 to 1941 which saw extreme economic slowdown, loss of employment, lowered standard of living and basic problems of food, shelter and medical facilities. It is still known as the worst period which the world has seen till date and according to various Great Depression facts, the Great Depression in America spread to the entire world and gripped the world in acute recession. Herbert Hoover was the President of the United States of America during those days and he is still blamed for his inability at handling the crisis effectively. Apart from this information on the Great Depression, there are some other Great Depression facts which can help you in understanding this period well.
Great Depression Facts for Understanding Economic Crisis
According to popular Great Depression facts, the onset of this economic condition throughout the world happened through a series of market crashes. Every subsequent day of a market crash is marked and the three main days were Black Thursday, Black Monday and Black Tuesday, with Tuesday being accounted for a loss of $14 Billion alone. Some Great Depression facts tell about the unemployment condition in the world, with 25% being the average unemployment rate around the world. The Great Depression of the 1930s also saw a lot of drop in the standard of living and according to some Great Depression statistics, nearly 50% children did not have access to the basic necessities like shelter, food and medical facilities. The Great Depression was finally ended by the onset of the World War 2 as the war brought in various job opportunities and trade options between the allies of the country.
What the World Learned Through the Great Depression
The Great Depression facts hold this period to be the worst in the history of the world and a lot has been gained from this experience. The economies have become smarter and the government has changed its functions to ensure that another such condition doesn’t set in easily. According to the information on Great Depression, the banks which had suffered huge losses during that period taught the government about better banking facilities which can be implemented in the world economy, thus making the world safe from threats like the Great Depression of the 1930s.