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The causes of the Great Depression are a matter of active debate among economists, and are part of the larger debate about economic crises, although the popular belief is that the Great Depression was caused by the crash of the stock market.
Causes and Consequences of the Great Depression. America had gone through hard times before: a bank panic and depression in the early 1820s, and other economic hard times in the late 1830s, the mid-1870s, and the early and mid-1890s. But never did it suffer an economic illness so deep and so long as the Great Depression of the 1930s.