Before ww2 there was a __ that was a economic failure that began in the u. s and went around the world in which there was a high unemployment rate and low industrial production?

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In financial aspects, a depression is a sustained, long haul downturn in monetary movement in one or more economies. it is a more extreme monetary downturn than a recession, which is a slowdown in financial action through the span of a typical business cycle. a depression is an irregular and extreme type of recession. so depression is always followed by recession but it is not correct to state that a depression always follow a recession.