What were the repercussions of the Great Depression for global economies? 🔊
The repercussions of the **Great Depression** had profound impacts on global economies, leading to widespread unemployment, bank failures, and deflation. Countries struggled with economic downturns, prompting many to adopt **protectionist policies** and trade barriers that further stifled international trade. The economic crisis also fueled political instability and the rise of totalitarian regimes, as disillusioned populations turned to extremist solutions. Additionally, the social fabric was altered, with communities relying on social safety nets, leading to shifts in labor policies and the establishment of government interventions in economies worldwide.
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