Great Depression.
In the 1930s, the US and the world experienced a terrible economic depression, which began with the crash of the New York Stock Exchange in 1929.
The causes of the Great Depression were the overproduction and expansion of credit through the banks, which generated a downfall in the economy. The Great Depression caused a drop in GDP, a huge increase in unemployment rates and still caused inflation.
The Great Depression was superseded by President Franklin Rooseveld's New Deal, an emergency economic plan that was based on the economics of economist John Keynes.