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What is Economic Crisis of the 1930s about?

The economic crisis of 1929 was caused by the excessive indebtedness of European countries to the United States after World War I. This led to the closure of businesses, soaring unemployment, and impoverishment of the population during the 1930s. Governments had to intervene to alleviate the misery, while alternatives such as socialism gained traction. Countries tried to emerge from the depression by reducing public spending, credits, social expenses, and wages, and imports.

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