The Great Depression, global economic recession (a depression), 1929 – 1941. Massive bank failures, unprecedented unemployment, and severe drops in GDP, industrial production, stock market share prices and virtually every other measure of economic health. The global disaster bottomed out in 1933, but did not actually and completely end until after the start of World War II. There is still an open debate about the cause(s) of The Great Depression. Some theorists blame such things as the Smoot-Hawley Tariff Act and the Federal Reserve policy, while others cite the stock market crash of 1929 (Black Friday) or the collapse of the gold standard. This argument will most likely never be resolved to the satisfaction of all economic theorists.