The Great Depression of 1929-33 was the most severe economic crisis of modern times. Millions of people lost their jobs, and many farmers and businesses were bankrupted. Industrialized nations and those supplying primary products (food and raw materials) were all affected in one way or another. In Germany the United States industrial output fell by about 50 per cent, and between 25 and 33 per cent of the industrial labour force was unemployed.
The Depression was eventually to cause a complete turn-around in economic theory and government policy. In the 1920s governments and business people largely believed, as they had since the 19th century, that prosperity resulted from the least possible government intervention in the domestic economy, from open international relations with little trade discrimination, and from currencies that were fixed in value and readily convertible. Few people would continue to believe this in the 1930s.

Causes of the Great Depression

They are 4 big causes of the great depression:
1-The overproduction: U.S.A produce a lot of textiles, cars, medicines and weapons. This products were useless after the First War World.
2-Stock Market: The shares of wall street have low prices.
3-Banking Crisis: All the people were taking out there money of the banks, the banks don't have the capacity to give the money to the people thats why they broke.
4-Unemployment: The unemployment waas of a 30%.