What was the major consequence of the Great Depression on global economies? 🔊
The major consequence of the Great Depression on global economies was a severe economic contraction leading to mass unemployment and decreased industrial production. The downturn, which began in 1929, affected nations worldwide, leading to a crisis in international trade and financial systems. Governments responded with varied strategies, some implementing Keynesian economics to stimulate demand, while others resorted to protectionism. The Great Depression reshaped economic policy and laid the foundation for later recovery efforts.


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