Depression 5
Depression 5 : General. An economic concept which refers to a serious and extended economic slump, characterized by declining production, high unemployment and falling wages and prices. In this state of affairs, some significant consequences are high rates of business failures and the collapse of financial institutions. The "Great Depression," which shook the economic and social foundations of North America and Western Europe in the 1930's, is perhaps the most severe depression in economic history. The United States of America was hardest hit, with massive business failures, collapsed financial institutions, and hundreds of thousands of persons out of work. Though occurring in 1929, the "Stock Market Crash"(USA) is an integral aspect of the "Great Depression". It was indeed a symptom of that 'economic earthquake'
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