Great Depression

Definition

Worldwide economic collapse following the stock market crash in 1929, in which unemployment remained high for an extended period and many businesses failed.

Use Great Depression in a sentence

Her grandfather lived during the Great Depression and therefore knew what it was like to conserve and save. He never wasted a thing and was always grateful for the things he had.

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Our class did a study on the Great Depression and its long term impact on the nation and its course over the years.

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It clearly changed sentiment about and expectations of the future, shifting the outlook from very positive to negative, with a dampening effect on investment and entrepreneurship, but some feel that an increase in interest rates by the Federal government could have also caused the slow steps into the downturn towards the Great Depression.

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Banking Act of 1933 Federal Housing Administration