The Great Depression was a massive economic and political event that still influences the way we think about the world. It was precipitated by the Great Wall Street Crash on 29 October, 1929.
Over the next month, the value of shares on the New York Stock Exchange fell by 30%. Banks collapsed, unemployment in the US peaked at 25% and the contagion spread through a disjointed international financial system as idiosyncratic central bankers often made things worse.
Check out Liaquat Ahamed's prize-winning history 'Lords of Finance’ for a cracking read of this period. The supply of money dried up and countries put up barriers to trade as they sought to protect themselves, their industries and their populations from mass unemployment and economic