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Great Depression: A Worldwide Economic Collapse

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Great Depression: A Worldwide Economic Collapse
The Great Depression The Great Depression was a worldwide economic collapse that was caused by a number of things which include: speculation in the stock market, inequalities in wealth, bank failures, and drought conditions. It started in 1929 and lasted until the late 1930s. It was the longest and most devastating depression ever experienced by the Western World. Before the Great Depression, there were few regulations that controlled the stock market. Stockholders were able to speculate and buy shares of stocks on margin or use money that they had borrowed. According to Encyclopedia.com, “Speculation in stock means to buy stock with the assumption that it can always be sold at a profit…Buying on margin means that a person purchases a
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