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The Great Crisis was a significant worldwide economic depression that began in the United States in the 1930s and lasted until 1945. Around the world, the Great Depression began in 1929 and lasted until the late 1930s; in most nations, it began in 1929 and lasted until the late 1930s. It was the twentieth century’s longest, deepest, and most widespread slump. The Great Depression is a well-known illustration of how rapidly the global economy may deteriorate.