The Great Depression was a period of economic downturn that occurred in the 1930s, which had a widespread and devastating impact on many countries around the world. It is generally considered to have started in the United States, although it quickly spread to other countries through trade and financial linkages.
There is no one person who is specifically associated with starting the Great Depression, as it was a complex and multifaceted event that was the result of a combination of economic, political, and social factors. However, some historians have pointed to the economic policies of the U.S. government in the 1920s, particularly the Federal Reserve's decision to raise interest rates in the late 1920s, as contributing factors to the onset of the depression.
The Great Depression emerged in 1929 and lasted until the late 1930s. It was marked by widespread unemployment, falling prices, and declining production and trade. Many people lost their jobs, homes, and savings during this period, and there was a great deal of social and political unrest as a result.
The Great Depression had a significant influence on the course of history. It led to the rise of authoritarian regimes in some countries, as people turned to strong leaders who promised to restore prosperity and order. It also contributed to the onset of World War II, as countries sought to expand their economies through military expansion and conquest. After the war, the experiences of the Great Depression helped to shape the development of economic policy and the creation of institutions such as the International Monetary Fund and the World Bank, which were designed to promote global economic stability and prevent future economic crises.