Term: Great Depression
Impoverished Madison family, 1934 (WHi-16249)
the collapse of the U.S. economy following the stock-market crash in 1929; no previous or subsequent economic collapse lasted so long or caused so much unemployement, poverty, and human suffering. It ended in the early 1940s, when U.S. entry into World War Two produced massive public investments in defense spending. View more information
elsewhere at wisconsinhistory.org.
[Source: Turning Points in Wisconsin History]