The event often referred to as the start of the Great Depression is the stock market crash of October 1929. This catastrophic event triggered a severe economic downturn, leading to widespread unemployment, bank failures, and a collapse in international trade. The crash exposed underlying weaknesses in the U.S. economy, including over-speculation in the stock market and high levels of consumer debt. Its repercussions were felt globally, resulting in economic hardship and social unrest. The Great Depression marked a significant shift in government intervention in the economy, influencing the development of economic policies designed to stabilize markets and provide support to those in need.