Great Depression

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Proper noun[edit]

the Great Depression

  1. (economics, business, finance, historical) A major economic collapse characterized by mass unemployment and limited business activity that lasted from 1929 to 1940 in the US and a similar period in many other countries.
    • 2012 October 23, David Leonhardt, "[1]," New York Times (retrieved 24 October 2012):
      For the first time since the Great Depression, median family income has fallen substantially over an entire decade. Income grew slowly through most of the last decade, except at the top of the distribution, before falling sharply when the financial crisis began.