When did the great depression end? The great depression occurs when the economy collapsed in the decade before World War 2. This is an example of how far the global economy can decline. At that time, thousands of people did not have jobs, businesses closed, tax revenues reduced, prices plummeted, and profits declined. Banks shut their doors because of losing money in the stock market. International trade is also reduced by 2/3rd . Countries that rely on heavy industry suffered a major blow to the economy of their finances, and many industries are closed. Well, before we answer that question, we will explain to you first about the start of great depression. Great Depression began when the stock market in the United States began to decline in the month of September, 1929. Previously, it has been a concern all over the world until finally the stock market plummeted.
The drop was spread throughout the country and resulted in great economic depression. The banks that have invested money in the stock market also began to go bankrupt. It created a great panic in many countries and people began to withdraw their money from banks. Then it also results in the closure of many banks, and those who cannot withdraw their money into bankrupt. Enterprises and businesses also affected by the stock market crash. Some business capital loss when the bank is closed. Businesses that were forced to close lead to a lot of unemployment. People who do not have a lot of money reducing their spending and not buy luxury things anymore. Finally luxury business items are closed too. At this time, the number of unemployed soared in many countries. Then, when did the great depression end? To recover from the Great Depression took many years. Most countries only have a great depression by the end of the 1930s or early 1940s.
However, there are some countries that do not heal yet after World War 2. When the price of goods such as meat, wool and minerals began to rise, there are several countries whose economies eventually recover. Countries with hardest economy hit at the time was the United States, Australia, Chile, Bolivia, Peru, Netherlands, United Kingdom and South Africa. Many governments around the world undertake major reforms to ensure that major depression does not happen again. And despite already recovered, there are some people who are still very frugal with their money and to be wary of banks. So, when did the great depression end? When we don’t have to experience the hardest economy hit anymore.