A large amount of literature including research and text books, exist on the subject of the Great Depression. It is considered by many economists as the worst economic crisis in American History. Statistics suggest that from the business cycle peak in 1929 to the trough in 1933, the real Gross Domestic Product (GDP) contracted by 39%. From 1929 to 1933, the unemployment rate rose from 3. 2% to 25% any may who had jobs were only able to work part-time. By 1933, 50% of American banks had failed. From 1929 to 1933, the consumer price index (CPI) fell by -25%.
