The great depression that happened during the 1920s had a huge impact on the whole social and economic process. It is also one of the most well-known crises in the world. This paper, through a method of literature review, will focus on the impact of the gold standard on the Great Depression. Besides, it will also discuss what happened before the Great Depression and what caused it, including its major impact on the world. The paper finds that the Great Depression happened during the stock

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... crash of 1929, the global trade collapse caused by the Smoot-Hawley Tariff, government actions, bank failures and panics, and the money supply collapse. The gold standard during the great depression made its export demand in the United States smaller than before. Besides, deflation was crippled by a sluggish economy, the stock market crisis of 1929, and a subsequent wave of bank bankruptcies in 1930 and 1931.