What major event is commonly referred to as "The Great Depression"?

The Great Depression is primarily recognized as a severe worldwide economic downturn that took place during the 1930s. This period was marked by unprecedented levels of unemployment, plummeting industrial production, and a significant drop in consumer spending. The origins of the Great Depression can be traced back to the stock market crash of 1929, which triggered a domino effect that destabilized financial systems globally.

The effects of the Great Depression were profound, leading to widespread poverty, homelessness, and a stark reversal of economic progress that had been achieved during the preceding decade. Governments and societies struggled to find effective responses to the crisis, prompting significant changes in economic policy, including the introduction of social welfare programs and regulatory reforms aimed at stabilizing financial institutions and preventing future collapses. This event shaped not only the economics of the United States but also had significant global implications, influencing policies and economies worldwide.

In contrast, the other options refer to distinct historical occurrences that do not relate to an economic downturn. The major war between the Allies and Axis powers pertains to World War II, the cultural movement in the 1920s refers to the Roaring Twenties with its artistic and social changes, and the political revolution in Russia relates to the October Revolution of 1917. None