1929 World Economic Depression, which began in 1929 ( the effects but feel literally at the end of 1930 ) and throughout the 1930s, is the name given to the ongoing economic crisis . Depression , despite receiving centers in North America and Europe , in the rest of the world ( especially in industrialized countries ) have devastating effects . The Great Depression had hit the most industrialized cities in these cities has created an army of unemployed and homeless . Depression affected many countries construction activity has stopped ; agricultural product prices 40% to 60 decline , farmers and rural population had an adverse effect . [1] Demand unexpected levels due to lower mining area of the Great Depression of the most affected sectors that has been one of . The Great Depression ended at different times in different countries . 1929 Depression is basically dedicated to the stock market crash in America although in those years on earth economic conditions , considering the magn...